Gold News

Survey predicts record Gold Prices by the end of 2009

A new survey released today (September 9th) has indicated that Gold Prices could reach record levels by the end of the year.

Bloomberg interviewed 12 analysts, traders and investors, and found that ten believe the metal will surpass its all-time high of $1,030 per ounce, which was achieved last March.

Ashraf Laidi, chief market strategist at London-based CMC Markets financial services company, is another prominent figure to express his confidence in the future of gold.

"The metal may fall as low as $950 an ounce before rebounding to $1,200 toward the end of the year," he said in a television interview with the news provider.

Last week, Helen Henton, head of commodities at Standard Chartered Bank, which has operations in over 70 countries, also provided a positive outlook for Gold Investment.

Although it has arrived in four-figure territory quicker than her fourth-quarter prediction, Ms.Henton's comments are another boost to anyone holding the yellow metal.

"Investment demand for gold is still very strong and that is going to help drive the price higher over time," she told the Daily Telegraph.

In addition to the March 2008 surge and this week's rise, gold also passed the $1,000 per ounce mark in February.

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