The gold price
Positive outlook for long-term Gold Price - 12 August 2009
The long-term perspective for gold is "positive", it has been claimed, with analyst Florian Grummers suggesting the yellow metal is set to break through the $1,000 barrier.
In an article for Commodity Online, Mr Grummers noted that Gold Investment patterns had led to several failed assaults on the $1,000 breach in the recent past.
However, he believes that mounting pressure will lead to a "break out" of the holding position, meaning the long-term outlook for gold is still "super bullish".
"Long term I expect the price of gold moving towards parity to the Dow Jones (=1:1)," the expert wrote.
"The next primary cyclical change therefore is still years away. This means we are in a long-term bull market in gold (and also commodities) and in a secular bear market in most of the stock markets."
John Lee, a hedge fund manager at Mau Capital Management, is also of the opinion that the Gold Price could soon reach three figures.
Indeed, he suggests that $1,500 per ounce gold could become a reality by the end of the year, Stock House reports.
"Gold indeed took a breather while allowing commodity and equity markets to catch up," he told the news provider.
"Now with crisis talk receding, inflation and deficit concerns will return to center stage. I look for gold to first break out of $950 by September, and rocket past $1,000 by the end of October."
For the very best Gold Prices – live online – plus secure storage of your physical property in Zurich, Switzerland for one-third the cost of an exchange-traded gold fund, click through and register with BullionVault now...
In an article for Commodity Online, Mr Grummers noted that Gold Investment patterns had led to several failed assaults on the $1,000 breach in the recent past.
However, he believes that mounting pressure will lead to a "break out" of the holding position, meaning the long-term outlook for gold is still "super bullish".
"Long term I expect the price of gold moving towards parity to the Dow Jones (=1:1)," the expert wrote.
"The next primary cyclical change therefore is still years away. This means we are in a long-term bull market in gold (and also commodities) and in a secular bear market in most of the stock markets."
John Lee, a hedge fund manager at Mau Capital Management, is also of the opinion that the Gold Price could soon reach three figures.
Indeed, he suggests that $1,500 per ounce gold could become a reality by the end of the year, Stock House reports.
"Gold indeed took a breather while allowing commodity and equity markets to catch up," he told the news provider.
"Now with crisis talk receding, inflation and deficit concerns will return to center stage. I look for gold to first break out of $950 by September, and rocket past $1,000 by the end of October."
For the very best Gold Prices – live online – plus secure storage of your physical property in Zurich, Switzerland for one-third the cost of an exchange-traded gold fund, click through and register with BullionVault now...
Goldbug, 12 Aug '09
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