Reports came this weekend that gold purchasers are increasing among Europeans, Asians, and Middle Easterners. Much of the upswing is due to the downswing that many of us are feeling in the U.S.
Gold prices may rise to $1,250 an ounce is a prediction by several, because it retains an allure as a hedge against inflation. Gold “could go up 50 percent”, says Sean Boyd, CEO of Agnico-Eagle Mines.
As credit and housing crises are still on the mainframe in the U.S., others are betting against us.
March 17th was the last high that gold experienced, at $1,033.90, but has dropped 19% since. The CEO of Newmont Mining Corp, Richard O’Brien, sees bright futures for the metal due to future inflation anticipation.
Everyone is now watching the euro. Gold has generally moved with the euro. The metal remains one of the most solid investments that can be made. The advice? Buy now and sell every time it jumps.
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