| xyrva0h5 |
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| Joined: 06 Aug 2013 |
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| Location: England |
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‘It’s likely to [link widoczny dla zalogowanych] be third time lucky [link widoczny dla zalogowanych] for gold: the price has tested the $1,000 mark twice [link widoczny dla zalogowanych] – in March 2008 and in February this year,’ says Bill O’Neill, portfolio strategist at Merrill Lynch Global Wealth Management.
The highest level ever reached by the yellow metal was $1,030 [link widoczny dla zalogowanych] per ounce, which it attained in March 2008, and it is currently trading at just under $1,000 per [link widoczny dla zalogowanych] ounce.
Now the largest bank in Germany [link widoczny dla zalogowanych] has announced that it is increasing its previous price estimate by over 30 percent in predicting that gold will surpass [link widoczny dla zalogowanych] $1,100 per ounce in 2010.
"The deterioration in the outlook for the US dollar combined with [link widoczny dla zalogowanych] an improvement in investor risk appetite is propelling [link widoczny dla zalogowanych] gold prices higher" said Mr Steel. "Gold appears [link widoczny dla zalogowanych] poised to challenge its record [link widoczny dla zalogowanych] highs of $1030.80 an ounce."
‘If there is even a hint that central banks are being over-generous in their fiscal stimuli, gold will become everyone’s touchstone. Investors worried about the quality of the currency or government bonds they are holding will seek the reassurance of gold.’
James Steel, precious metals analyst at HSBC, said 's ability to rebound over the $1,000 level was impressive as previous rallies [link widoczny dla zalogowanych] beyond [link widoczny dla zalogowanych] this level had been followed by significant price corrections.
is selling close to $1,000 (?632) an ounce – up more [link widoczny dla zalogowanych] than 20% over a year. Just five years ago, it was selling for just $400 (?253).
Concerns that inflation could rise are at the [link widoczny dla zalogowanych] heart of the gold boom. While inflation will eat away at the spending power of currency, tends to hold its value. |
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