Gold News

Golden price growth puts $1,000 in sight

Gold has staged another remarkable rally and has got forecasters revising even their most optimistic predictions.

After surging $12.60 (U.S.) to close at $823.40 an ounce in New York yesterday, more and more investment experts started to envisage the metal breaking through the $1,000 barrier.

John Ing, president of investment specialist Maison Placements, told ReportonBusiness.com that the 1980 record high of $850 was well in sight.

"I think we are days away rather than months away. Then I have an interim target of $1,000 an ounce," he added, fixing the next 12 months as a possible time frame for the hike.

Factors encouraging people to buy gold are converging amid current market instability, with a weakening dollar and a spiralling oil prices sending gold ever higher.

Financial institutions have recently lined up to revise their gold forecasts upwards, reacting to the prolonged bull-run that has driven the metal well up on August prices.

BullionVault-cube-18347129-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