Gold News

Gold Prices to average $910 in 2009, stay strong until 2014

Australia's chief commodities forecaster has predicted that Gold Prices will average around $910 per ounce this year, the Australian reports today (March 16th).

The yellow metal recently broke through the $1,000 per ounce barrier but immediately fell back, as it has done before when reaching seemingly crucial resistance levels.

However, the Australian Bureau of Agricultural and Resource Economics believes that Gold Investment is a sound move as prices will remain strong until at least 2014.

In its recently-released commodities outlook, the body is quoted by the news provider as saying: "This rise is expected to stem from growth in retail investment demand in the form of gold bars, coins and other products, which has grown in popularity in some countries as global economic and financial market uncertainty intensifies."

Indeed, those comments were strongly corroborated last week by David Einhorn, founder of the Greenlight Capital fund, who believes that any economic move in the coming months will suit gold.

"Our instinct is that gold will do well either way: deflation will lead to further steps to debase the currency, while inflation speaks for itself," he said in a note to investors, quoted by the Financial Times.

How best to Buy Gold today? "If there's an easier route to buying investment gold, I have not found it," says one BullionVault customer. Find out for yourself and start Investing in Gold here...


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals