Gold Price Expected To Soar This Year
Gold price is expected to soar this year amid ongoing financial market turbulence and economic uncertainty, forcing investors to demand gold in preference to other investment options.
According to a report by the New Zealand Herald on Sunday, most economists are of the view that the yellow metal could hit more than NZ$2000 an ounce this year from its current level of NZ$1600.
The report said that gold prices reached US$845 at present, off its peak of US$1000 in March last year. This compared to US$550 an ounce at the start of 2006.
Over a period of past five years, gold has risen more than 210% in value, the report quoted Robert Jamieson, general manager of Goldsilverbullion.com.au.
 10 2010 1OZ OUNCE AMERICAN SILVER EAGLE GEM BU COINS US $218.05 |
 1995 $5 AMERICAN EAGLE 1 10 OUNCE GOLD COIN BU  US $145.00
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 1996 ISLE OF MAN 1 5 OUNCE GOLD CAT COIN BU US $280.02
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 1999 $5 AMERICAN EAGLE 1 10 OUNCE GOLD COIN BU US $142.50
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 1874 S USA Silver Trade Dollar AU58 Guaranteed Genuine US $162.11
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 1929 Gold 250 piece Indian head US $227.50
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ANZ head of commodities research Mark Pervan says the $2000 price forecast is based on speculation of a collapsing US dollar stemming from a "massive injection of US dollars into the system. People will buy gold as an alternative."
The report reaffirms the fact that gold is considered a safe haven in times of weak equity markets and financial uncertainty, and the easiest way of getting exposed to gold price movement is by buying gold coins in small and affordable units on a regular basis.
Most of us have been waiting a long time for the price of gold to start taking off again.
Gold as well as most other commodities have been held down for quite a long time by the bankers. The world wide economic system is based on paper and the Central Bankers will lose power when commodities begin to rise. If the system is driven by paper and credit, it would not be in the interest of the bankers to have the public buying up tangible assets.
Gold and the rest of the precious metals have become the only real safe investment. I believe the current gold price is not anywhere near the price it should be at, based on inflation.
The following is an excellent article on how gold has decoupled from the US Dollar…. http://www.goldnewswire.net/gold-disconnects#gold-price