$1,000 Gold?
Gold priced ended the month with a 5% decline, but a 2% rise in the second quarter and 6% rise in the first half of 2009. June is typically the best month of the year to buy gold at an average 10% low for the year. Most analysts are projecting gold prices will end the year above $1,000/oz.
* “Gold Prices Seen Trending Higher, said Peter McGuire, MD of Commodity Warrants Australia, reports CNBC video. Expect to see a softer U.S. dollar over the course of this week,” predicts Stephen Roberts, chief economist at Nomura.
* “Gold and economic freedom are inseparable. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights,” wrote Alan Greenspan back in 1966.
Categorised as: Gold News