Gold prices traditionally rally off the summer lows in September as many players come back to the market. And if this year holds true to that seasonality, next month might turn out to be “a good September.”
Many bullish analysts point to plenty of support for higher prices coming from safe-haven concerns. It’s these concerns, rather than pure supply/demand fundamentals, that have brought prices 13 percent higher in 2010, which gives many an eternal pessimist reason to warn the gold market may be experiencing a bubble waiting to burst.
: Dig Media recently conducted its Resources Investing News 2010 Survey to gauge the interests of its readers and gain insight into investors’ perception of the markets. Perhaps most telling was that nearly 69 percent of respondents said they believe the price of gold will reach $1500 before the end of 2010.
After hitting an all-time record high, the price of gold edged back down Thursday. Precious metals analysts are blowing off the break as little more than a bit of profit-taking or a short breather before gold prices continue their upward climb on fear and uncertainty in the markets, which has been pushing investors into safe-haven assets.
One significant factor underpinning the price of gold right now is high expectations of inflation increasing globally. Although many analysts agree that inflationary concerns will provide support for gold prices, some are much more bullish in their price forecasts than others.
By Kishori Krishnan Exclusive To Gold Investing News The price of gold has touched an all-time high for a third consecutive day – after a continued decline in the dollar kept it attractive to investors. Gold reached $1,058 an ounce on Thursday, powering past Wednesday’s high of $1,048.4. On Tuesday, it passed the $1,033.9 an [...]
By Kishori Krishnan Exclusive To Gold Investing News Spanish philosopher George Santayana had warned: “Those who cannot remember the past are condemned to repeat it.” The same could hold true for gold. The interest in the yellow metal is based on the fact that the price of gold has risen more than $700 since 2002. [...]
India gold futures edged lower on Wednesday as slipping crude oil dimmed the yellow metal’s appeal as a hedge against inflation, but a weak rupee kept the downside limited. For full story, click here
Gold prices eased on Thursday as the dollar’s surge spurred profit-taking on bullion’s jump to a two-week high the previous day when U.S. consumer price data stoked concerns about increasing inflation. For full story, click here
Gold prices extended gains on Tuesday as traders purchased into the metal as a currency hedge amid weakness in the U.S. dollar, with a larger-than-expected rise in U.S. producer prices also fuelling gains. For full story, click here
Wednesday, August 18, 2010