Friday, July 29, 2011

Gold Prices to Climb Higher as investors continue to flee the U.S. dollar.

Gavin Wendt, Senior Resources Analyst at MineLife, expects gold to reach more record highs as investors continue to flee the U.S. dollar " If you have a look at Gold in inflation adjusted terms it is trading well below where it should be " "the gold rally is based on very very sound fundamentals it is has not been based on any leverage or borrowing which is typically what we see with regards to most bubbles , there a whole  lot of leverage and borrowing involved " " we are looking at $2000/oz in the next 12 to 24 months "

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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