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Tags: Dollar, Gold, Gold Bubble, Gold Prices, Jason Simpkins, Outlook 2010

Why Gold Will Reach a Record $2,000 in 2010

By , Money Morning • November 19, 2009

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Gold has surged 60% in the past 12months and it’s not letting up. The “yellow metal” is continuing that scorching surge into the last part of the year, establishing new highs on a near-daily basis. In fact, gold established yet another record price yesterday (Wednesday) when it peaked at $1,153.40 an ounce on the New York Mercantile Exchange (NYMEX).

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And the records are going to keep on coming.

With the U.S. dollar in a freefall and global gold demand rising, analysts say the precious metal will likely continue its bullish trend through at least the first half of 2010. It could rise as high as $2,000 an ounce, which would represent a 73% gain from current record levels.

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  1. Don't Miss Out on the Looming Gold Bubble says:
    November 23, 2009 at 3:04 am

    […] And that translates into much higher prices. […]

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