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Gold Price to reach record highs this year, says GFMS

Posted By admin On July 9, 2009 @ 4:23 am In Money Watch | Comments Disabled

Bullion Vault [1]
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)

Gold Price to reach record highs this year, says GFMS  250509BANNER [2]

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.”

Full story here. [1]


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URLs in this post:

[1] Bullion Vault: http://goldnews.bullionvault.com/Goldbug/gold_price/gold_price_to_reach_record_highs_this_year_says_gfms_19256734

[2] Image: http://prisonplanet.tv/signup.html

[3] Gold price ‘to hit $2,000 an ounce’: http://www.prisonplanet.com/gold-price-to-hit-2000-an-ounce.html

[4] Gold Prices Heading For Record Highs: http://www.prisonplanet.com/gold-prices-heading-for-record-highs.html

[5] Gold Rises To New Record In GBP – Close to Near Record Highs In Euros And Most Currencies On Global Debt Contagion Risk: http://www.prisonplanet.com/gold-rises-to-new-record-in-gbp-close-to-near-record-highs-in-euros-and-most-currencies-on-global-debt-contagion-risk.html

[6] Gold hits new record high for third day: http://www.prisonplanet.com/gold-hits-new-record-high-for-third-day.html

[7] Gold climbs to all-time highs above US$1,400/oz: http://www.prisonplanet.com/gold-climbs-to-all-time-highs-above-us1400oz.html

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