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Robert McEwen, chairman and chief menagerial of a Canada-based gold mining company is very bullish on the future outlook for gold. "I expect it to test 0 by the end of 2008, and by the end of 2010, north of ,000, maybe ,000," McEwen stated in a recent interview. Strong gold and commodity prices are spurring speculation in the quest for new deposits by many mining clubs across the world. His company is currently exploring for gold on mineral lands in central Nevada and expects to spend about million to fabricate the site over the advent years.
10k Gold Price Per Gram
Gold is seen as a profitable opening by many investors, having risen over 50% while the last two years, from 0 per ounce in May of 2005 to its current spot price of around 0. While McEwen's price projection is considerably above the current spot gold price, he is not the only manufactures menagerial who foresees steeply increasing prices in the near future. The former Ceo of a large well known Us based gold mining company, Pierre Lassonde, believes gold will reach 0 by Christmas of this year. In spite of the price increases in the past several years, actual production of newly mined gold from most nations continues to decline, as costs rise at existing mines.
In spite of the fact that gold prices have been rising toward their May 2006 peak of 5, they have failed to break above the 0 mark this year, and are still seen as consolidating after the sharp run-up in prices last year. In addition, selling of the gold reserves of obvious European nations, most notably Spain, is seen as depressing prices in recent weeks. Silver prices have also remained strong.
Many experts believe that although interrogate from jewelry makers will likely drop off as gold prices rise, it is likely to be more than made up for by increased purchases from investors who are seeking a liquid speculation alternative to the dollar. speculation in gold and silver for both large and small investors has been made considerably easier in recent years with the creation of replacement Traded Funds - funds whose assets are gold or silver held in storage. That thinkable, increase in speculation demand, coupled with the declining value of the dollar, rising costs to mine gold and the geopolitical risks around the globe, should tighten the furnish and interrogate picture for the costly metal providing the driving force to move prices upward in the advent years.
The author is an independent investor and not a consultant, counselor or broker. The facts and opinions expressed in this article are presented for educational purposes, and are not intended to be used as speculation advice. The reader is strongly urged to fully identify and consider all the risks before making any investment.
Steep Gold Price Increases Ahead - Experts Foresee 00 Per Ounce No URLRelated : We have selected quality products for you here Honora Freshwater Pearls
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