Gold News

Long-term projections suggest a rise for Gold Prices

Gold Prices are on the verge of an upturn that more speculators would see if they looked at the longer-term picture, it has been suggested.

According to Howard Katz, author of the One-Handed Economist newsletter, most analysts are too close to the market to get a proper sense of what will happen to the value of their Gold Investments.

He wrote: "They follow news items day-to-day. They get excited by the little up and down moves. They rarely look at a long-term chart."

The financial expert wrote that the market is currently in the "second upswing of the commodity pendulum", urging speculators to look back at the "first upswing", which occurred during the 1970s, for parallels.

In the ten years after then-president Richard Nixon abolished the last link between the dollar and gold reserves, large amounts of money were printed and Gold Bullion rose in value from $35 per ounce to $875 per ounce.

"At the same time that these fundamental forces are unfolding, we have one technical principle after another calling for a massive rise in gold," he concluded,

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