« Fancy Vivid Pink Diamond Sets Record Price At Sotheby's Auction. | Main | Pakistani Women Love Diamonds. »
Gold Hits $600. What's Next?
Gold bullion nudged through the $600 per ounce barrier for the first time in a quarter century on Tuesday, prompting investors to ask: can $800, or even $1,000 gold, be far behind?
Most analysts agreed that once the precious metal broke the psychological mark, it would likely keep going. But they were divided over whether gold mining company stocks would be as attractive as owning bullion.
They noted that the big gold miners, like Newmont Mining (NEM.N: Quote, Profile, Research) and Barrick Gold (ABX.TO: Quote, Profile, Research) (ABX.N: Quote, Profile, Research), have failed to see their share prices keep pace with the steady rise in gold. Instead, investors are flocking to smaller, so-called "junior" gold companies that are involved in exploration,
"Gold will go dramatically higher, it's still early," said Peter Schiff, chief executive of Euro Pacific Capital, a brokerage based in Newport Beach, California.
"Will it reach $800? Yes, $1,000? yes, $2,000? yes. it has nowhere to go but up, but it depends on how far the dollar and other currencies will be devalued."
"The momentum for the commodity is going up and if spot prices break the $600 mark, they will probably continue to go up," said Victor Flores, an analyst with HSBC Securities.
Peter Spina, who operates an investor web site, goldseek.com, said in the short-term there was likely to be correction as the market was a little over-extended, with physical demand from India, the world's top consumer of gold, mostly for jewelry, "drying up at these prices.
"But long-term, fundamentals for gold are more as an investment vehicle." He anticipated the price would rise to $800 within the next two years and possibly hit $1,000.
Comments
Set your trust in God and retain your powder dry.
Posted by: Cheap rosetta stone on April 22, 2011 2:23 PM
great article mate but how do I get your rss feed?
Posted by: Cheap Christian Louboutin on April 23, 2011 3:17 PM
Tyvm for that excellent data! I'd not have uncovered th is myself!
Posted by: Rosetta stone spanish on April 25, 2011 12:19 PM
Just a question. Do you feel you could add a little much more in the way of content here? I feel youve got some fascinating points, but Im just not sold. If you really need to get the crowd behind you, youve got to entertain us, man. Possibly you could add a video or two to drag the message home.
Posted by: fluval filters on May 8, 2011 5:19 PM
Your weblog is outrageous! I mean, Ive never been so entertained by anything in my life! Your vids are ideal for this. I mean, how did you manage to uncover something that matches your style of writing so nicely? Im truly happy I began reading this nowadays. Youve got a follower in me for positive!
Posted by: Shower Hose on June 4, 2011 3:40 PM
For what its worth, the layout is definitely incredible. You know how to balance writing and images/videos. Even so, I cant get over how little you truly bring to light here. I think that everyones said the same factor that youve said over and over once more. Dont you think its time for something much more?
Posted by: Insulated Lunch Bags on June 4, 2011 4:47 PM
This is actually a intelligent weblog. I mean it. You have so a lot understanding about this issue, and so a lot passion. You also know how to make individuals rally behind it, certainly from the responses. Youve got a style here thats not too flashy, but makes a statement as large as what youre saying. Great job, indeed.
Posted by: mens shoulder bags on June 4, 2011 11:27 PM
Why didnt I believe about this? I hear exactly what youre saying and Im so happy that I came across your weblog. You truly know what youre talking about, and you created me feel like I really should learn far more about this. Thanks for this; Im officially a enormous fan of your weblog.
Posted by: Hotels Near Wembley Stadium on June 5, 2011 1:49 AM
You certain do know what youre talking about. Man, this blog is just great! I cant wait to read much more of what youve got to say. Im truly pleased that I came across this when I did because I was genuinely starting to get bored with the entire blogging scene. Youve turned me around, man!
Posted by: rolling duffle bags on June 5, 2011 9:33 AM
You sure do know what youre talking about. Man, this weblog is just excellent! I cant wait to read more of what youve got to say. Im truly pleased that I came across this when I did because I was really starting to get bored with the entire blogging scene. Youve turned me around, man!
Posted by: panoxyl on June 5, 2011 1:13 PM
The next time I read a weblog, I hope that it doesnt disappoint me as much as this one. I mean, I know it was my choice to read, but I in fact thought youd have some thing fascinating to say. All I hear can be a bunch of whining about something that you could fix in the event you werent too busy searching for attention.
Posted by: Wireless TV Speakers on June 5, 2011 7:44 PM
Very good luck getting individuals behind this one. Although you make some Extremely fascinating points, youre going to have to do more than bring up a couple of issues that might be different than what weve already heard. What are attempting to say here? What do you would like us to feel? It appears like you cant really get behind a unique thought. Anyway, thats just my opinion.
Posted by: panoxyl on June 6, 2011 2:52 AM
This is really a intelligent weblog. I mean it. You might have so considerably knowledge about this issue, and so considerably passion. You also know the way to make individuals rally behind it, naturally from the responses. Youve got a style here thats not too flashy, but makes a statement as large as what youre saying. Fantastic job, indeed.
Posted by: bentley bags on June 12, 2011 2:24 PM
You positive do know what youre talking about. Man, this blog is just great! I cant wait to read more of what youve got to say. Im genuinely pleased that I came across this when I did because I was actually starting to obtain bored with the entire blogging scene. Youve turned me around, man!
Posted by: zhu zhu pets on June 12, 2011 2:30 PM