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Gold to $800/oz

by @ 10:45 pm
Filed under: financial — Tags: ,

Just read this article on Fortune about predictions of gold prices falling to $800-$900/oz in the next 1-2 years. The justification being that with the world markets stabilizing, investment in gold will no longer be viewed as a prudent choice and investors will abandon the metal for more rewarding bets.

I don't see these predictions holding much weight. The fundamental issues that led to the most recent financial crisis are still largely unresolved, albeit temporarily patched, debt levels are still sky high and there are political uncertainties in Europe and US.

At $1,200/oz gold may be over-priced for a stable and calm world. Ours is anything but, and as long as that continues so does the marching onward and upward of gold prices. $2,000 may be a stretch but $1,500 is definitely within a striking distance.

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