Gold price whats ur opinion
November 10, 2009 11:44pm CST
Hey I want to know what do u think about gold price in march 2010 it will sustain or go up or go down .
12 Nov 09
I think the price of gold will get to $1500 per ounce come March 2010. There's some disturbing news out there which says that the world supply of gold is running out. Recently, India purchased 200 metric tons of the shiny metal from the IMF. China is also buying as well. This leaves the IMF gold reserves for sale with 220 metric tons left for the rest of the world. Barrick, the world's largest gold producer is producing less and less gold bars every year. The United States, with its soaring deficit in the trillions of dollars, was printing money from the Treasury to bailout their deeply troubled banks. European nations followed suit with billion dollar bailouts and money printing. This uncontrolled money printing will devalue the US dollar (the current world reserve currency), and will result in hyperinflation. Gold, which has always been the hedge against inflation, will in most analyst's views become THE world reserve currency (as it was in ancient times). Coupled with hyperinflation, exploding world demand, and dwindling resources, the value and price for gold will soar even higher. The sky's the limit, really.