Last Updated : 03 December 2012 at 20:00 IST
Gold may climb above record high of $1,920/Oz in 2013 : Certified Gold Exchange
Arthur McGuire, Vice President of the Certified Gold Exchange says that “Our expert gold analysts project that gold will break past its record high and reach $2,200 ounce in 2013.
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- Gold, Silver may trade weak; Crude Oil to remain stable
- Exchange-traded products in gold -- investment vehicles that give investors exposure to bullion through issuing securities backed by the physical metal -- have seen huge outflows this year.
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NEW YORK (Commodity Online):Gold analysts at the Certified Gold Exchange are projecting that gold will surpass its all time record high price of $1,920 per ounce in 2013 based on several economic factors that are strengthening gold’s fundamentals.
Gold is positioning itself to break past its all time record high price of $1,920 per ounce in 2013 as several economic factors continue to strengthen the precious metal’s fundamentals. The upcoming fiscal cliff, unstable US Dollar and rising safe-haven demand have caused many investors to shift away from dollar-backed assets in exchange for physical gold throughout 2012.
Higher demand is what has pushed gold prices from $250 per ounce in 2001 to the current $1,750 per ounce in 2012. This equals to an 18% average annual gain in gold prices over 11 years, all while stocks, bonds and real estate plummeted amidst a global economic recession.
Arthur McGuire, Vice President of the Certified Gold Exchange says that “Our expert gold analysts project that gold will break past its record high and reach $2,200 ounce in 2013. We believe this is a very accurate projection, since gold prices have averaged at least 18% gains annually since 2001. The bottom line is that all the factors supporting gold are still there, and stronger than ever. Prepare for higher gold prices in 2013.”
The Certified Gold Exchange, Inc. (CGE) is North America's premier precious metal trading platform backed by a solid PriceMatchPlus® Guarantee. They provide both institutional and household investors with real-time quotes and instant liquidity when buying or selling gold, silver and platinum products.
