Gold News

Gold Prices 'to surge' at end of bull run

A gold analyst at GFMS has claimed that Gold Prices could be set to have a "very strong acceleration" in the future, Mineweb reported yesterday (April 14th).

The yellow metal is currently on a bull run which stretches back to 2001, with prices rising from $250 per ounce to break the four-figure barrier for the first time last March.

Nick Goodwin from the precious metals research firm has explained that in the previous bull run in the late 1970s to early 1980s there was a sharp upturn towards the end of the cycle - something he feels is also a possibility on this occasion.

He told the news provider: "In the last stages of that bull market you get very strong acceleration in the price and we haven't really seen that here, where you almost get like a vertical climb and it started in sort of late '79 and then moved into '80 and in those last few months you had almost like a doubling in the Gold Price.

"Well we haven't seen that yet. I think we could still see that coming."

Mr. Goodwin also expressed his belief that prices could go to around $1,200 per ounce next year when the inflationary effects "of this massive stimulation that's been put into the international financial system" are realised.

This view appears to be backed up by Rita Graft from precious metals and jewelry dealer SilverTrowne, who explained that her company has been swamped by people wanting to buy gold.

"We have so many orders to fill, we're about four to five weeks out to make it," she told

"I've worked here for 27 years and we've always had one shift (of workers manufacturing medallions and ingots), and now we have two shifts. We've definitely seen a big increase."


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