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Gold Rush by Many Investors Could Push Price Up to $1,200

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Jeff Cox
CNBC.com
Friday, Sept 4, 2009

Investors wary of other investment choices are taking physical possession of gold in a move that could drive the metal to historic heights.

Gold prices could make a run at $1,200 and beyond this year as investors look for safe places to put their money amid continued turmoil not only in the economy but also the stock market and the US political structure.

“When you have such a large part of US population convinced we’re running to hell in a handbasket with federal spending, you’re going to have a large part of the population buying and taking possession of gold out of fear of what’s going on,” says Jim DiGeorgia, commodities analyst for Gold and Energy Advisor.

Investors can buy gold in a variety of ways—through futures contracts, mutual funds, exchange-traded funds, as well as actual ownership.

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This article was posted: Friday, September 4, 2009 at 4:01 am





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