Gold News

Gold Prices 'to hit $1,500' by end of 2010

Gold Prices will reach $1,500 per ounce by the end of the year, one expert has suggested.

Jason Hamlin, a gold market analyst and founder of Gold Stock Bull, said on his website that Gold Bullion's safe haven qualities would serve if the recession proved to be "W" shaped – which he expects it will be.

He said: "Gold has been one of the best performing asset classes over the past decade and is the best storage of wealth during times of monetary expansion and economic uncertainty.

"I am holding to my prediction of $1,500 gold before the end of the year. I also believe we are likely to experience a double dip recession during the back half of 2010."

Meanwhile, Gavin Wendt, Sydney-based analyst with Mine Life Pty Ltd, also believes that Gold Prices are set to move upward, though at a slower pace than Hamlin perhaps.

He told Bloomberg BusinessWeek: "The price of gold has been relatively static over recent times, with near-term movements being influenced by the waxing and waning of the US currency.

"There is every chance that we will begin to see a slow and steady increase in the price of bullion."

To Buy Gold today, avoiding wide spreads and storage costs – but still owning your physical Gold Bullion Investment outright with full legal title – be sure to visit BullionVault and claim a free gram of gold now...


BullionVault-cube-19629951-ADNFCR

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