The gold price
Gold investment 'a win-win situation' - 10 May 2008
A gold analyst has advised investors in the precious metal that prices could continue to rise, despite the opinions of many, more bearish stakeholders, reports Money and Markets.
According to Larry Edelson, editor of Safe Money Report, there are several reasons why the price of gold could continue to go up.
These include the well-publicized lack of new supplies, as well as the fact that inflation in the US is likely no matter what actions the Federal Reserve takes to avert economic crisis.
Mr Edelson said that he is optimistic about gold prices in the long-term, pointing out that they rose by 127 per cent in 2004 to 2006 when interest rates were changed 17 times.
"Gold and virtually all natural resource prices are headed much higher in the months and years ahead. My next target for gold: $1,250 an ounce. Then, its inflation-adjusted high of at least $2,270," he said, according to Money and Markets.
Mr Edelson has been in the precious metals market for over 24 years and became editor of Safe Money Report, published by Weiss Research, in 1996.
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According to Larry Edelson, editor of Safe Money Report, there are several reasons why the price of gold could continue to go up.
These include the well-publicized lack of new supplies, as well as the fact that inflation in the US is likely no matter what actions the Federal Reserve takes to avert economic crisis.
Mr Edelson said that he is optimistic about gold prices in the long-term, pointing out that they rose by 127 per cent in 2004 to 2006 when interest rates were changed 17 times.
"Gold and virtually all natural resource prices are headed much higher in the months and years ahead. My next target for gold: $1,250 an ounce. Then, its inflation-adjusted high of at least $2,270," he said, according to Money and Markets.
Mr Edelson has been in the precious metals market for over 24 years and became editor of Safe Money Report, published by Weiss Research, in 1996.
Researching your first Gold Investment today? Don't pay more than you should! Make it cheap, simple & ultra-secure at BullionVault…
Goldbug, 10 May '08
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