Tuesday, December 9, 2008

Selling Gold at $2,000 an Ounce?

According to a press release from Cantos Communication, London is calling gold at $2,000 an ounce a “realistic possibility” in 2009.

Citing that “despite its recent weakening, the prospects of gold reaching $2,000 an ounce next year has to be considered a realistic possibility”. The information comes directly from James Turk, the Founder and Chairman of GoldMoney.

Turk was interviewed, via video, and has claimed that the doubling of the current value of the metal is highly likely as investors look for ‘safe haven status’ for their investments among the under-performing market. Demand among retail investors has been significant over the past year as hedge funds and other investors have been forced to sell gold and others are looking to buy. However, government intervention makes many nervous about the status of gold.

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