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Gold Rallying to $1,500 as Soros’s Bubble Inflates

Posted By admin On August 31, 2010 @ 3:44 am In Money Watch | Comments Disabled

Nicholas Larkin
Bloomberg [1]
Tuesday, August 31, 2010

Investors are accumulating enough bullion to fill Switzerland’s vaults twice over as gold’s most- accurate forecasters say the longest rally in at least nine decades has further to go no matter what the economy holds.

Analysts raised their 2011 forecasts more than for any other precious metal the past two months, predicting a 10th annual advance, data compiled by Bloomberg show.

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Gold Rallying to $1,500 as Soross Bubble Inflates 240810banner7 [2]

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The most widely held option on gold futures traded in New York is for $1,500 an ounce by December, or 18 percent more than the record $1,266.50 reached June 21. Holdings through bullion-backed exchange-traded products are already at more than 2,075 metric tons, within 0.1 percent of the all-time high.

“Either a swift economic recovery or further dismal economic performance should bring new buyers into the market,” said Eugen Weinberg [4], an analyst at Commerzbank AG in Frankfurt who was the most accurate forecaster in the first quarter and expects the metal to rise as high as $1,400 next year. “A stronger economy would create more jewelry demand. If the economy stays weak or gets worse, then investors will be looking for a safe haven.”

Full story here. [1]


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URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/news/2010-08-30/gold-rallying-to-1-500-for-analysts-as-soros-s-bubble-inflates.html

[2] Image: http://www.homegain.com/media-center/featured-videos/homegain-exposed-by-alex-jones

[3] Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[4] Eugen Weinberg: http://search.bloomberg.com/search?q=Eugen%20Weinberg&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja

[5] Gold Off Charts as Prices Heading ’Parabolic’: http://www.prisonplanet.com/gold-off-charts-as-prices-heading-%e2%80%99parabolic%e2%80%99.html

[6] Top Gold Forecasters See Rally Until March: http://www.prisonplanet.com/top-gold-forecasters-see-rally-until-march.html

[7] Gold Tops $1,000, First Time Since March as Recession Deepens: http://www.prisonplanet.com/gold-tops-1000-first-time-since-march-as-recession-deepens.html

[8] U.S. Mint Sales of Gold Coins Jump to Highest in Three Years: http://www.prisonplanet.com/u-s-mint-sales-of-gold-coins-jump-to-highest-in-three-years.html

[9] Soros Signals Gold Bubble as Goldman Predicts Record: http://www.prisonplanet.com/soros-signals-gold-bubble-as-goldman-predicts-record.html

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