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:
"Gold ends slightly higher ahead of G20 meeting"
Author: Moming Zhou
Website: MarketWatch.com
Main Points: Gold for April delivery edged up $3.50 today to finish at $926.10 an ounce. MarketWatch indicated "the metal's investment appeal increased with expectations that the meeting of the Group of 20 nations may not pull the world's economy out of recession."
Subjects up for discussion that could have ramifications on the market at the G20 summit include the dollar's status as the global reserve currency and the potential sale of 403 tons of gold by the International Monetary Fund.
Analysis: Expecting one meeting to pull the world's economy out of recession may be asking a bit much. It's widely understood that getting out of economic tough times will be a process that may take years to complete. This is why investment experts continue to tout gold as a safe long-term investment.
"George Topping Shares Price Outlook for Gold, Copper and Uranium"
Website: The Gold Report
Main Points: The Gold Report interviewed George Topping, a research analyst specializing in the mining sector at Blackmont Capital, about his outlooks on gold, copper and uranium. He projects the price of gold to remain flat at $950 an ounce through 2011.
Analysis: Keep in mind that Topping pays closer attention to uranium and copper than he does gold, but it's not an unusual projection. He doesn't provide this as an explanation, but many have suggested gold has a low ceiling due to the hit gold in retail takes during these tough economic times.
"Gold price to plateau: analyst"
Website: ABC.net
Main Points: Justin Smirk, a senior economist with Westpac, doesn't expect the price of gold to spike suddenly.
"I don't think gold will go down but it won't rise as fast as everything else", he said.
"I think gold relative to everything else has stretched itself out because of the risks around now, it's about as far as it can get".
"When we get a strong rise in commodity prices, gold too will rise, but other commodities will rise faster".
Analysis: Smirk also goes on to say that, while gold typically does well during an economic downturn, you can expect it to fall once investors gain confidence in the stock market.
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