Gold is headed to $2,000 an ounce
A US investment expert said that through gradual increases, the price of gold could reach $2,000 an ounce.
Frank Holmes, chief executive officer at US Global Investors, said that gold will hit $2,000 an ounce, and that while the move won't be straight there from current levels, investors should not be surprised by it. In a radio interview, Holmes noted that virtually all commodities have gone through their “inflation-adjusted 1980 price levels,” with the notable exception of gold, and that to get to that range the price of gold would have to top $2,000 an ounce. Holmes said he expects a short-term pull-back in gold - based on a correction he sees coming in oil and a short rally in the dollar, both of which will impact gold prices - but that the long-term trend will be strongly upward. (marketwatch)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.