, IncNovember 25, 2009 – The latest gold price recorded on the GoldPrice live ticker was $1183.80, and this record-high price for gold was achieved before noon EST. Some economists thought that gold might pull back after breaking through the $1100 per ounce barrier, but the weakening US dollar has driven gold higher, and gold is now on pace to surpass $1200 per ounce before the end of the year.
It was only a few weeks ago that economists were calling for the gold spot price to reach $1100 before 2010, but gold looks to have stabilized above $1100 levels for the time being. Market analysts expect the gold spot price to rise another 12-18% in 2010, so if these increases manifest themselves then we could be buying gold based on a $1400 spot price before the end of next year.
Don’t believe the hype if someone tells you that gold will continue to rise at current levels, because it is unreasonable to expect that the gold price will increase by 10% every month until our economy regains health or drastic measures are taken to reshape our nation’s finances. Like all other investments, gold does not move in a straight line and the gold spot price fluctuates based on factors that change constantly.
The latest gold price of $1083 is evidence of weaker US currency and higher demand for safe-haven assets within US borders. If you believe that these factors will continue to hold true, then you may want to fortify your portfolio and/or retirement account with physical gold. Email GoldPrice.net to learn more about today’s gold market, or call our toll-free help desk to have your questions answered.
Stewart Lawson
Senior Staff Writer - GoldPrice.net
