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Gold Price to reach record highs this year, says GFMS
Bullion Vault
Thursday, July 9, 2009
A leading precious metals consultancy claimed today that Gold Prices should comfortably break the $1,000 per ounce mark by the end of the year.
The yellow metal reached its all-time high of $1,030 per ounce last March and has since passed the four-figure again on two further occasions before quickly falling back.
However, GFMS chairman Philip Klapwijk has explained that ongoing concerns over the state of the global economy – plus subsequent inflationary worries – should see investors continue to buy gold in the remainder of 2009.
(ARTICLE CONTINUES BELOW)
Speaking at GFMS’ annual Gold Survey in Beijing, he commented: “The price may have pulled back a fair bit from the February highs but that was largely just the market’s reaction to jewellery demand crumbling and scrap booming.
“We believe that it’s far from game over for investors. The gold price in the coming months could easily re-attain the $1,000 mark and is likely to push up towards a fresh record high before the end of the year.”
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30 Responses to “Gold Price to reach record highs this year, says GFMS”
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July 9th, 2009 at 4:37 am
Ching, Ching, Ching, Cha-Ching…. That’s the sound of all the money I’m going to make with my gold investments.
This fellow has an excellent perspective on money: http://www.unconditionalfriendship.com/?p=162
used to be proud brit Reply:
July 10th, 2009 at 3:19 am
GOOD TO HERE THE GOLD PRICE IS GOING UP
I`VE GOT STACKS OF IT !!!!!!!!!!!!!!!!!!
LOL AT LEAST SOMETHING IS GOING WELL FOR ME
YIPEEEEEEEEEEEEEEEEEEEEEE!!!!!!!!!!!!!!!!!!
used to be proud brit Reply:
July 10th, 2009 at 3:39 am
IF ANYONE WHO KNOWS THE NWO PLAN THEY WOULD HAVE STUCK ALL THERE MONEY INTO GOLD THE END OF 2007
I WANTED TO DO THIS THEN BUT MY WIFE WOULD`NT LET ME
DOES SHE REGRET IT?
BUT I DID PUT SOME SO I`AM STILL LAUGHING
Flame Thrower Reply:
July 10th, 2009 at 11:30 am
First of a big FUCK YOU to Alex you fucking asshole CREEP! Ah now that I feel better how about some REAL FUCKING TRUTH for all you dumbshit “TRUTHERS”:
GCN (Alex Jones Radio Network) is owned by Ted Anderson
Ted Anderson also happens to be President/CEO of Midas Resources.
GET IT! ALEX JONES IS A MONEY GRUMBING TURD!
[qouted from]:
Alex Jones claims to be against “mainstream media”, when there is concrete evidence that proves that he IS mainstream media because GCN (the radio network that gives him a voice) is an affiliate of ABC/Disney.
BTW, why is it that EVERY single one of these “patriot” radio networks is run by a GOLD BROKER?!
Just look at all the evidence of this. GCN is owned by Ted Anderson who just happens to be President/CEO of Midas Resources, a gold broker.
And GCN’s competitor RBN is ALSO owned by a gold broker company called the “Republic Trading Group”.
ALEX THE FAKE PAYTRIOT Reply:
July 10th, 2009 at 11:32 am
We’re here and not going away Alex you fucking asshole CREEP.
You won’t get away with this bullshit anymore.
July 9th, 2009 at 5:02 am
I have a conflicting report, deflation, followed by defaulting on all our loans. If that happens, gold will go down to next to nothing, and the stock market will hit 2000 points.
If Midas resources wasn’t a sponsor here, I’d be a little more likely to take this hook line and sinker. Seems like a lot of stuff here, points to things Alex and his sponsors can make some dough off of. They can’t make any money selling gold, if everyone thought it was going to tank.
I still think it’s a good idea to pick up some silver, and such… while it’s cheap, but gold even at 900 an ounce, isn’t cheap enough for my blood. Silver, if it drops down to say, 5 dollars an ounce, I won’t cry too loudly, and just go, I lost 300 bucks on 20 rounds… if I bought 20 ounces of gold, and it went to 100 dollars an ounce, i’d be crying in my pillow at night, going i’m such a dumb ass.
used to be proud brit Reply:
July 10th, 2009 at 3:24 am
MAYBE YOUR RIGHT
MIGHT BE A GOOD TIME TO CASH IN POSS
ALL THE SHARES ARE FLAT
MAYBE A GOOD TIME TO INVEST IN MONSANTO OR SOMETHING LIKE THAT OR A PHARMACEUTICAL COMPANY
IF YOU CANT BEAT THEM?
July 9th, 2009 at 5:15 am
Hey, Gold Bug. That is the sound of the gold doing up my dredge!!
July 9th, 2009 at 7:29 am
hey madman
wake up and smell the hummus! Gold is going up in the long term not the short . jump in and sit on it for 2 to 3 years and make a bundle at 3000 an ounce!
bob
I buy ounces 1 and 2 at a time whenever i get some spare cash.
Madman Reply:
July 9th, 2009 at 11:52 am
Not discounting that… just seems that everything in Infowars and PrisonPlanet pushes the ideas and the products of the advertisers on it’s site.
Sort of like, finding what best suits and sells it’s clients goods and services, and pushing it to the forefront.
I am not saying gold hasn’t went up 400%, but that seems to be to smell like a bubble all it’s own.
Madman Reply:
July 9th, 2009 at 11:54 am
You don’t see stories like this on Prison Planet…
http://online.wsj.com/article/.....03313.html
That’s all I am saying, fair and balanced, seems more like biased toward our advertisers on here…
Gold Bug Reply:
July 9th, 2009 at 2:23 pm
Well, no one can argue with your logic, but at the end of the day we have a choice to look at the world the way we FEAR it is, the way we WISH it to be or simply the way it IS. I choose to look at the world the way it is. If you want a “fair and balanced” view of the world, then that is your funeral and no one can help you my friend. I wish you LUCK! You are going to need it.
Madman Reply:
July 9th, 2009 at 4:38 pm
I am saying that Alex says this site is a legitimate news outlet, so as such, not every piece of news presented here, should directly put profit into his sponsors pockets, or his.
I choose to see the world, from as many sides as possible, and decide for myself what could or could not be true.
We will all need luck, and we’ll all need food, water, and ammo LONG before we’ll be pulling out the silver and gold.
I am just saying that, it’s not a BAD IDEA if you are well heeled to purchase gold, not at all, there’s 20 different we’ll buy your gold stores in my area now…
I am saying, that every day, is not a news blitz of get your gold now, panic panic.
I realize that Alex’s site, and show are decidedly one sided, exposing the criminals, and I appreciate that, for what it is.
Now, that being said, What happened to that 250K he brought in a few weeks ago in the money bomb? I mean, can we not shed a sponsor or two now, like say a damn ad that infects your computer with spyware *thank the gods I have a mac* ? If Alex is going to call out everyone else on their greed in this shitting mess in the USA, he needs to start to admit his own. I know that he needs money to run the show, yadda yadda… and I don’t fault him for that at all. I do hate the ads on the site, ads on the air, people doing the advertising here being the guest *sounds like a conflict of interest of a legit news organization to have the head of Disney as a guest on ABC, persay.*
Nothings perfect, and Alex does a good job at what he does, just wish he could get enough money to stop sending his listeners to rip off artist, spyware infected websites, etc.
July 9th, 2009 at 8:24 am
Deflation now or for the next 3 years. Deflation means that the dollar will purchase more REAL things. Even in a deflationary cycle gold and silver will do ok. Your once will be able to purchase more tangible things (like the dollar), so don’t look at how many worthless dollars it takes to purchase an once of gold or silver, look at what it can buy.
Eventually the dollar will collapse with the sky rocketing debt and payment of double digit interest. The only way out is to print more money.
The important thing to remember is its going to take awhile. I see gold/silver dropping in price not rising. Cash is still King until confidence is lost.
The world will be HELL when gold is worth $2000 so it really isn’t anything to jump for joy over.
Download Robert Prechter’s NEW Gold and Silver eBook – It’s FREE!
http://www.elliottwave.com/clu.....code=32540
July 9th, 2009 at 8:30 am
I agree whole heartedly with Madman. This site is NOT a non-profit site.
I would feel better about the other information here if it weren’t for articles like this one which is clearly to get people interested in purchasing gold.
Alex you say you want to help then stop the BS and help people.
used to be proud brit Reply:
July 10th, 2009 at 3:34 am
FFS HOW `S THE GUY AND HIS TEAM GONNA FEED THERE FAMILYS?
HOWS HE GONNA RUN HIS SITES?
ARE YOU DONATING MONEY?
THAT’S JUST STUPID
QUOTE
“I would feel better about the other information here if it weren’t for articles like this one which is clearly to get people interested in purchasing gold.”
I WILL REPHRASE
“I WISH I HAD BOUGHT GOLD WHEN THE PRICE WAS LOW LIKE ALEX`S WEBSITE SAID BUT I DIDN`T NOW I`AM CRYING”
LOL
SOUR GRAPES
July 9th, 2009 at 8:44 am
If you believe gold will rise, why not play ticker DGP and double your money?
I much prefer playing the bubble in treasuries with either TMV!
July 9th, 2009 at 12:30 pm
Goldman said that oil would hit 85 per barrell also. Maybe these people are saying these things to unload thier positions. Folks the only thing i see increasing purchasing power or increasing in value is CASH. I’m currently shorting real estaste through a ETF symbol SRS
July 9th, 2009 at 3:48 pm
I agree with Madman. Deflation. Banks are hurting except for the market movers (insiders) like GS. From roughly 2001-06 all metals inflated with US index markets.
The only way gold goes higher from here is if other fiat currencies are bought and usd sold and hyper inflation hits the US. For now, jobs are tight= no money. What is the elite’s next move? The elite live off our tax so why kill the cash cow?
Gold will takeoff again when US markets takeoff.
The elite hate/fear Ron Paul, if Paul is murdered there will be more blood spilled. I will quit work to go underground. Lead, sunny side up.
July 9th, 2009 at 5:12 pm
Kohn (Cain) threatens US downgrade if Paul and Co. battles with Fed disclosure. Loss of AAA bond rating would force global funds to dump US bonds. This is the price to pay to get the cancer out of the body….poverty. Are you all ready to live like a full fledged family farm. 12 cows, 100 chickens, etc…
http://www.reuters.com/article.....KM20090709
“Fed Vice Chairman Donald Kohn said opening up some of the U.S. central bank’s most sensitive decisions to political scrutiny could result in higher long-term interest rates and hurt the United States’ credit rating.”
July 9th, 2009 at 5:40 pm
Gold may go up in value in the US but not in the rest of the world. Gold is measured in US dollars for now (Obama is doing such a good job of destroying the US and it’s currency) but gold is going down in value in other countries because other currencies are stronger against the US dollar. Eg in Australia gold has gone from $1450 an once 3 months ago to only $1150 an once today and with Obama devaluing the US dollar even more, gold will get cheaper in most currencies. Usually When the price of gold goes up so does other currencies. A one cent gain in the Aussie dollar equal a $10 drop in the gold price in Australia. A one cent decline in the Aussie gives a $10 rise in Gold price. Generally.
July 9th, 2009 at 8:35 pm
Why does the money trust want a delinking of gold and the dollar, and celebrate inflation in all its diabolical forms?
Very simple.
If the dollar were still linked to gold at $35 an ounce, as it was from the 1930’s to 1971, you could just stick money into a mattress, and the buying power 20 years later would be identical. That is antipodal to the desire to create incentive to investment in the stock market.
Inflation requires that EVERYBODY take risk just to stay even. The entire population needs to become risk-takers just to preserve buying power. This is especially evil when one considers that the money in question has already been taxed, both hidden and overtly, to an effective 60 to 70% level, leaving only about 30% after paying all the hidden and stated taxes. Then, that 30% needs to be risked in sketchy and questionable enterprises like the stock market, if one isn’t to lose all one’s buying power over time. That opens the door for the professional thieves to steal the remaining 30%, be it from naked shorting, or commissions, or an outright rigged game. Nobody would play that game, AS THEY DIDN’T from 1930 to 1971. Once the population had to risk in order to just stay even, the markets took off.
It really is pretty straightforward. We’ve been getting screwed for a long time. This is just the most obvious and overtly usurious example.
July 10th, 2009 at 7:44 am
A leading precious metals consultancy? wow how did these idiots figure that out
July 10th, 2009 at 7:44 am
hey idiots its already at 1400 1500 on ebay
July 10th, 2009 at 9:15 am
Too early to get into gold. We will be in a deflationary period for at least the next 2-5 years.
Too many gold bugs hoping, hoping that gold will shine. Most commodities, especially gold and silver will have a downward bias in the near term.
July 10th, 2009 at 11:02 am
Do you really live in house that cost $750,000?
Michael Corbin speaks out about Alex & his wife
http://www.youtube.com/watch?v=CB_3XNsvJP8
July 10th, 2009 at 11:06 am
truth911 is lying or very much misinformed
Thursday July 9, 2009
Gold at $916.20
Silver at $12.93
Platinum $1108.00
Palladium $236.00
http://www.kitco.com/charts/livegold.html
July 10th, 2009 at 11:24 am
Alex Jones claims to be against “mainstream media”, when there is concrete evidence that proves that he IS mainstream media because GCN (the radio network that gives him a voice) is an affiliate of ABC/Disney.
BTW, why is it that EVERY single one of these “patriot” radio networks is run by a GOLD BROKER?!
Just look at all the evidence of this. GCN is owned by Ted Anderson who just happens to be President/CEO of Midas Resources, a gold broker.
And GCN’s competitor RBN is ALSO owned by a gold broker company called the “Republic Trading Group”.
July 10th, 2009 at 11:31 am
I was lucky to find out about the upcoming financial system fuck job back in 1998. So I bought a huge load of gold at under $280 an ounce (80% of my worth went into gold). It took ten years for the truth to finally come out about the banks and the corporations that weren’t making any money but hiding losses through creative accounting methods. Thanks to the bastard criminal radio show host Nick Guarino of the Wall Street Underground newsletter for his sick advice…that worked.
Back in 98 he warned to get out of real estate while the market was high and take your profits.
Buy into gold, oil and the euro. And play some options trades on the side.
And get out of the depreciating dollar by keeping your savings in euros and gold.
And stay the fuck out of the manipulated stock market. I did buy some gold stock as well…Goldcorp…and it did well.
These strategies made huge amounts of gains against a depreciating dollar. It took a slimy criminal type to actually give me the best financial advice of my life. My financial advisor laughed at me when I make these changes, but now…his portfolio is down %40 and he tells me now how good my choices were. Actually they were the best choices with the highest return over a ten year period.
I don’t expect gold to ever go beyond the $1,500 an ounce mark. But I do expect gold to fluctuate between $1000 and $1500 for the next twenty years.
If seashells or catshit becomes the next best storehouse of my wealth then that is where it will go. Until then…gold is king.
July 16th, 2009 at 9:49 am
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