GOLD guru Martin Murenbeeld is predicting an average gold price of $823/oz for 2008 as positive market fundamentals bear out his earlier, bullish forecasts.Speaking at the Denver Gold Forum, Murenbeeld also forecast gold would average $683 for 2007 and end the year at $754. Murenbeeld assesses the gold market through econometric models which set out three price scenarios out of which he derives a “probability-weighted” forecast. His predictions have been remarkably accurate over the past fo…
Original Post By Google News Brendan Ryan
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With gold having broken the US$730 per ounce mark to reach a 28-year high, Citigroup analyst John Hill says the metal appears to be entering a new investment-driven phase and has re-asserted itself as a safe haven. He thinks gold will be one of the top beneficiaries of the “Re-flationary Rescue,” which should bode well for hard assets and basic materials… Citigroup continues to be bullish on bullion and expects the multi-year bull market to continue with prices to average US$750 in 2008 a…
Original Post By Google News Jonathan Ratner
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Prices up 11% in a month; analysts see correction ahead, then more gainsAfter reaching their highest level since 1980, gold prices may be due for a correction soon, but that could help feed what many expect to be a long-term boom — to $800 and then inflation-adjusted highs past $2,000 in the years to come…”I do not believe today's prices are lofty,” said Scott Wright, an analyst at financial-services company Zeal LLC. “Gold would have to exceed $2,200 an ounce in today's doll…
Original Post By Google News Myra P. Saefong
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Prices up 11% in a month; analysts see correction ahead, then more gainsAfter reaching their highest level since 1980, gold prices may be due for a correction soon, but that could help feed what many expect to be a long-term boom — to $800 and then inflation-adjusted highs past $2,000 in the years to come…”I do not believe today's prices are lofty,” said Scott Wright, an analyst at financial-services company Zeal LLC. “Gold would have to exceed $2,200 an ounce in today's doll…
Original Post By Google News Myra P. Saefong
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It would be the biggest run on gold since the attempted French invasion of Britain of 1797 that sent prices through the roof.The precious metal, long a safe haven for investors, yesterday was predicted by a leading analyst to quadruple within three years as buyers seek shelter from prolonged turmoil in mainstream financial markets. According to Christopher Wood, chief strategist at the broker CLSA, market ructions and a collapse of the dollar could send gold prices to more than $3,400 an ou…
Original Post By Google News Leo Lewis
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