Filed under: International markets, Consumer experience, Economic data, Commodities, Federal Reserve

Earlier this month I took a look at gold prices, and said we could be looking at a modern day gold rush. Well, consultants over at GFMS Ltd. seem to agree, and are now predicting that $1,000 gold is on the way.

I, for one, have no problem agreeing with GFMS, and believe that the only question is how fast will $1,000 gold be upon us. Right now we just seem to have the perfect set of economic conditions present that are needed to keep gold charging ahead.

The main factors that are at play are a weak dollar and high oil prices. Add on top of that the fact that the housing market has sparked widespread fear that a recession is on the horizon, and what you have as a result is a bunch of people looking for somewhere safe to keep their money, and you guessed it … gold typically equals safety.

Continue reading Should we expect a short pull-back in gold before prices shoot to $1,000?

Permalink | Email this | Comments

Share This

This entry was posted on Thursday, January 17th, 2008 at 10:47 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.