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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.
Mr. Simpkins: great article! Except I don't think ABX is the largest gold producer in the world… It might be the largest by market capitalization, but not by production. The largest gold by production is based in South Africa and is traded in the NYSE.
Gold is having a Golden Run. Hope it continues as everything that glitters is not Gold and pure Gold has to be in the forefront. Hope World gets-up to the fact and gives Gold its true value.
[…] And that translates into much higher prices. […]
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enjoyed reading your article. For this next gold phase I like gdxj better. Just mho.
Thanks and good luck to all.
A pure play gold bull stock is HGU on the TSX in Toronto. An amazing stock!
Surely Gold will give return @20% minimum for next 5 yrs in India.
Deepak Saini
Manager Maruti
uppssss, it's 2011 and Gold didn't hit $2000, huh, bad forecasting
Who can I sell my gold to that will offer me the most amount of money?
Well I guess HE IS WRONG its mid 2011 and gold is NOT at $2000 an ounce ..I guess that shoots his credibility.. yes its going up ..but this predictor was WRONG like so many of the experts .. where do these guys come from .. we can all say we are experts and predict all sorts of things ..
BUt he had great charts and all sorts of evidence supporting his theory too bad it didn't work..