Friday, March 27, 2009

Today in Gold: Friday, March 27

Each weekday, Cash4Gold will troll through the web's gold banter and post some of the bigger or more interesting stories. Following is a run-down of today's features:

"Expect Significantly Higher Gold and Silver Prices Within 30 Days"
Author: Franklin Sanders

Main Points: Sanders urges investors to "keep on buying silver and gold," saying that once gold surpasses $1,000 an ounce it will rise rapidly.

"Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00..."

Analysis: Not a lot of detail here explaining WHY he expects gold to go so high, but it should be pointed out that his one caveat is that if gold falls below $920 an ounce then all bets are off.

"Silver and Gold"
Author: Eric Fry

Main Points: Here's another aggressive projection for gold.

"Dollar debasement will doubtless trigger inflation," says Byron King of Outstanding Investment. "Over time, this will cause a flight from paper currencies to gold. I've already predicted gold at $3,000 within 30 months. I've heard other gold analysts forecasting gold at $4,500 within three years. So there's a lot of room on the up-side."

Fry warns that there is plenty of unknown, and the price of gold may drop significantly before it rises.

Analysis: These aggressive projections seem to be rarer by the day, so it is surprising to find two in one day. The counter we've been hearing recently to a strong gold increase is the negative effect of a down economy on the gold jewelry industry.

"Gold Futures, Crude Oil Pull Back"
Author: Chris Nichols

Main Points: Gold fell $19 an ounce today to $923.20. Commodities in general had a rough day as the dollar rose against the Euro and Pound.

Analysis: Somewhat ironic that gold fell so close to $923.20, and the first article we covered today with an aggressive projection indicates such a rosy future may not happen if the price of gold falls below $920. Oh, so close.

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