, IncNovember 24, 2009 – Gold price projections have fluctuated almost as frequently as the gold spot price recently, in part because many analysts’ projections for 2009 and 2010 have already been exceeded. The current gold spot price is $1067.80, which is a 10.52% increase in the last 30 days. While gold probably won’t gain 10% every month during our recession, most mainstream market analysts believe that the gold spot price could reach new heights throughout 2010.
• CitiFX analysts believe that the gold bug will continue to bite investors next year. These analysts have called for the rise in gold since 2001, when the yellow metal was worth $252 per ounce. CitiFX analysts have predicted gold prices of $1300 in the first quarter of 2010.
• Dr. Michael Berry believes that Washington will continue to run the printing presses, which has historically had a profoundly rewarding effect on precious metals. Dr. Berry believes that gold could eventually reach $1500 per ounce, and he has remained firm in his stance that silver could reach $35 per ounce around the same time.
• Martin Armstrong is the former President of Princeton Economics, and he foresees the gold price reaching $1350 in 2010. He believes that our nation will reach a danger zone in terms of citizen confidence next year, which could provoke a complete economic meltdown. He believes that higher demand for safe-haven assets will drive gold prices throughout the next few years.
These are only a few of the most conservative gold price projections for 2010. Some economists have called for seemingly outrageously high prices, and it remains to be seen if dollar devaluation will double or triple gold prices over the next decade.
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Stewart Lawson
Senior Staff Writer - GoldPrice.net
