Gold News

Gold to hit $2k an ounce 'in a few years'

Gold prices could hit the $2,000 an ounce mark in the space of a few years, it has been claimed.

Robert Lutts, president and chief investment officer at Cabot Money Management, told the Pittsburgh Post-Gazette that he expects gold bullion to be valued at $1,000 an ounce later in 2008 and $2,000 in several years' time.

According to another expert, the current high gold price levels are "sustainable" and could reach the dizzy heights of those seen 1980, when prices almost doubled to $850 in a matter of weeks - which would mean that nominal prices today would have to reach $2,000 an ounce to rise to the same high.

Peter Munk, chairman of Barrick Gold, told Reuters last month that growing demand and increasingly pressurised supply could make such an event a reality.

Also speaking to the Post-Gazette was George Milling-Stanley of the World Gold Council, who noted that investor demand for gold can be attributed to a growing willingness to look at the yellow metal in the face of other underperforming assets - a trend that could be good news for those who are already investing in gold.

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...


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