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Bill Hionas Says Gold Prices Slated To Exceed $2000 Early Next Year |
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$2000 predicted, mainly based on central bank buying. |
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\25 Press Releases\
October 17, 2011 - MIAMI, FL - Bloomberg Business Week has joined other analysts in predicting that gold will break through the psychological barrier of $2000 an ounce early next year. The predictions are based on the buying activity of many central banks, particularly those of emerging economies. Central banks were net purchasers of gold last year, for the first time in twenty years. Countries such as Thailand, Vietnam, Russia, Mexico, Bolivia, Tajikistan, China and India have all been increasing their gold bullion reserves, a trend that many analysts see continuing.
According to the World Gold Council, gold bullion buying by governments and central banks totaled 192.3 tonnes in the first half of this year. Traders and analysts are currently strongly bullish in their predictions for gold...
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