Author Topic: Gold price set to soar  (Read 2993 times)

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The Prophet

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Gold price set to soar
« on: June 04, 2011, 07:42:58 am »
Robin Griffiths of Casenove says that "the fed is trashing the dollar to the extent that we are moving away from the dollar being the main reserve currency on the planet. Emerging currencies and something that cannot be printed like GOLD will take its place"

He predicts that GOLD will reach $3,000 per ounce at least but if the US keep printing money it could hit $12,000.  "The peak will be in 2015 after which the bull run will be over"


Philofacts

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Re: Gold price set to soar
« Reply #1 on: June 04, 2011, 08:37:28 am »
I agree the only way is up for GOLD

The World Gold Council says sales of physical GOLD jumped more than 100% year-on-year in the first 3 months of this year.

With inflation fears in China, the growing demand for GOLD there is fuelling price rises.  This coupled with a fear of another banking meldown in Europe after a debt default is also supporting prices and adding to the upside.

Today just 0.6% of global assets are in GOLD compared to 3% in 1980 when the Gold price last peaked.
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