Gold Price Predictions Coming True
September 23, 2010Los Angeles, CA. - Over the last few months I've noticed several accurate Gold and Silver price predictions coming true, time will tell with the rest but here are a few to watch.
All the predictions have the potential to become reality especially if the Fed continues printing money. Gold bullion's most accurate forecasters say this Gold rally, which is the longest rally in 90 years, has much further to go.
Analysts have predicted a tenth annual advance in Gold bullion prices and many have raised their forecasts for Gold in 2011 dramatically.
In July Bank of America-Merrill Lynch commodity research chief, Francisco Blanch, said, "Gold is the ultimate backstop to the sovereign crisis," and predicted an increase in the price of Gold to $1500 an ounce by the end of 2011.
Goldman Sachs recently raised its 12 month Gold price forecast by 1.5 per cent, to $1,355.00 an ounce. Goldman also increased its 12 month silver price forecast by 1.3 per cent, to $22.60 an ounce.
John Licata, chief commodity strategist at Blue Phoenix, sees Gold's price reaching $1375 an ounce. He said the Federal Reserve's expansion of its quantitative easing through bond purchases confirmed his view.
Dan Brebner, analyst at Deutsche Bank in London and the most accurate forecaster of Gold bullion's movements so far this year, says Gold bullion may reach $1,550.
Eugen Weinberg, an analyst at Commerzbank AG in Frankfurt who was the most accurate forecaster in the first quarter expects the price of Gold to rise as high as $1,400 next year.
Jim Rogers, chairman of Rogers Holdings, while not predicting a timeframe, forecast Gold's price to rise to more than $2,000 per ounce.
David Rosenberg of Gluskin Sheff, who correctly forecast the credit crisis and recession, continues to express his view that Gold bullion prices will remain in a strong uptrend and could reach beyond $3,000 an ounce.
I’m leaning towards Rosenberg’s prediction myself. Invest in physical Gold and Silver bullion and coins. Adding Gold to your IRA is easy to do, so do it today.