Why Gold Will Hit $3,500
This is a very interesting article about forecasting the price of gold – be sure to read it all.
Gold hovers around $1,400, and is on its way to $3,500, according to one industry expert. While a few weeks behind schedule, gold captured the all time high $1,400 mark based on the decline of the dollar, and fears over Euro Zone debt fears.
“We have a combination: inflation fears, currency market uncertainty, fears about the financial strength of some countries,” said Alexander Zumpfe of Heraeus Metals.
Compelling logic for $3,500 gold
The prediction that the price of gold will rise to over $3,500 per ounce in the next two years, is according to precious metals analyst, Andre Hudson, of Walwyn Stodgell Chochran Murray, Ltd. Hudson told the Montreal Society of Financial Analysts that gold has dramatically outperformed the stock market in the last seven years, and is likely to continue to do so.