If there is no quick resolution to the Euro problems and it does not seem like there is one on the horizon yet, we just may see new heights for this metal, even maybe close to $2000 an ounce someday”.
Gold will probably reach $2,300 an ounce in 2012 and may top $3,500 in three years, Alacer Gold Corp. Chief Executive Officer Ed Dowling said.
Gold may remain a very attractive asset in 2012. Commenting on the 2012 gold prospect Dmitry Medvedenko believes there is a number of facts that can stimulate gold prices’ growth, “we have got the debt crisis in the EU, we have instability in currencies, we have rising demand from China and the upcoming wedding season in India, when families offer gold as a traditional gift to the newlyweds.
Concerns about sovereign debt and increased demand for gold in emerging markets including China will be positive for prices, Dowling said in a telephone interview Jan. 20. “There’s only one way for gold to go and that’s really up,” Dowling said. “I think we’ll see $2,300 this year.”
Gold has risen for 11 straight years on increased investor demand. Futures for February delivery rose 0.9 percent to settle at $1,678.30 an ounce on the Comex in New York. ~ Source : Jan. 23 (Bloomberg) --
