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Gold to “double in price and surpass its inflation-adjusted high of $2,500 per ounce in the next 3 to 5 years”
The bullish outlook for gold prices was covered by Dow Jones Marketwatch yesterday.
“Gold prices may be ready to make a significant move higher as holdings of the precious metal in the SPDR Gold Trust exchange-traded fund climb to their highest level in more than two months.”
GoldCore believes that gold may have “bottomed in the summer,” and could climb to as high as $1,300 an ounce by the end of this year. Longer term, O’Byrne expects gold to “double in price and surpass its inflation-adjusted high of $2,500 per ounce in the next 3 to 5 years.”
The metal “remains undervalued when compared to assets such as stocks, bonds and property—all of which have surged in recent years,” he said.
The full article from Marketwatch can be read here – Gold may be on verge of ‘breakout’ higher as ETF holdings rise.
Read more on the GoldCore.com blog
DAILY PRICES
Today’s Gold Prices: USD 1136.90, EUR 1014.55 and GBP 749.19 per ounce.
Yesterday’s Gold Prices: USD 1114.20, EUR 998.66 and GBP 735.69 per ounce.
(LBMA AM)
IMPORTANT NEWS
Gold may be on verge of ‘breakout’ higher as ETF holdings rise – MarketWatch
Gold Trading Slightly Higher in Asia – Wall Street Journal
Gold futures extend gains to a second straight session – MarketWatch
Gold edges up on weaker dollar, soft U.S. jobs data – Reuters
U.S. service sector growth ebbs in September – Reuters
IMPORTANT ANALYSIS
This is a new opportunity to buy gold: Technician – CNBC
The Silver Market Disconnect Continues: 2 Must See Charts – SilverSeek.com
China’s President Confirms Practice Of Moving Official Reserve Assets To Other Entities In China – ZeroHedge
UK economy seen slowing after slide in services activity – Reuters
UK economic growth has slowed dramatically, latest survey suggests – The Guardian
Read more News & Commentary from GoldCore.com
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So, Goldcore quotes Marketwatch which quotes Goldcore. What a circle jerk.
I like gold and silver, but I am tired of Goldcore's constant cheerleading.
I don't think anyone has a clue what may or may not happen. I like Silver as an insurance policy because it breaks down to smaller amounts in case the SHTF. I am happy to see the price go up but I wouldn't bet on it nor would I sell it (now).
I would say that the odds of gold dropping to $500 are much higher than it going to $2500.
If the odds are good enough, go in there and sell the hell out of it. :-)