prediction of gold in 2010?
Question by GIRISH: prediction of gold in 2010?
Best answer:
Answer by Gamerpc
I would say that Gold will go down in 2010.
It has reached its peak never seen before, and for a long time running.
With US economy picking up, latest figures, no need to invest in Gold.
Cheers from DOWNUNDER
Add your own answer in the comments!
Related posts:
The Wall Street analysts believe that inflation will be modest for the next few years. If you believe them, then gold is going nowhere.
If you believe that the U.S. will default on all or part of its $12 trillion debt, then gold will soar past $2,000.
Well, gold is often used as an hedging instrument when stocks or real estate offer low returns. With the stock market picking up, I would pull away from gold and invest a little more in stocks. But I wouldn’t pull all of my investments in gold; its good to hold onto considering the volatile environment. FYI, I would stay out of bonds given the prediction in inflation.
850, I think gold will be in trouble because I believe the U.S will not be able to meet the inflation expectations that has been priced into gold. Also, as the stock market rallies, the safe haven of gold will be less attractive and some money will come out of gold and into the markets.
Gold will trade for between $150 and $350/ounce in 2010, closer than that I cannot say.
The fundamentals of the broader market today are no different than they were during Bush’s first term, so the Dow will likely return to the mid-term (Apr-Dec) levels of 2007, or the 13,800-14,000 level, whereupon the lemmings who all bought gold will unload it, and gold will tumble.
If I was a gambling man I would peg it at $300 based on this graph, but I ain’t…