SELLING GOLD: EARN CASH IN UNCERTAIN TIMES

According to Forbes, Merrill Lynch analyst Francisco Blanch is predicting gold at $1500 an ounce.

Citing inflation pressures as a result of the financial bailout, gold ETFs (electronically-traded funds) like SPDR are expected to soar.  Many analysts believe that gold, while experiencing significant swells in pricing, has not yet made its move.

According to Bianch, “gold has shown flashes of running but has not broken out.  The obvious trade on paper is not so obvious to the market tape at this point.”

The global plans in place to stabilize the financial sector have not seen the worse yet.  Merrill Lynch’s opinion on gold is that it will soar due to “inflationary pressures to the commodity markets”.  Additionally, oil is predicted to reach $150 a barrel.  The senior analyst at USAGOLD, Peter Grant, is predicting that the “debasement” of all currencies will additionally drive gold prices.

Although these predictions are gaining attention, there is no timeline posted on the predictions.

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Gold Sales to Increase Worth of Metal?

This week’s update on gold pricing may predict rising futures for the metal.

Reuters UK reported that due to hardships being experienced by the U.S. banking industry, gold might be headed for a run.

This week, oil fell below $10 a barrel for 7 month lows, Lehman Bros filed for bankruptcy protection, and Merrill Lynch was acquired by Bank of America.   The weaker dollar could trigger a rise in demand for commodities, like gold.

Gold jumped 2.5% to over $784 an ounce following last Thursday’s 11-month low of $736.  Bullion, on the other hand, was trading at $775.60 an ounce.

Gold is often considered a safe haven during financial crises, and many economists are predicting that it is not performing at its peak ability yet.  Gold’s futures will also be determined by watching if the euro reacts strongly or weakly to the dollar.

Many economists are also questioning what will happen when much of the supply of gold is purchased...

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