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Blanchard analysts see great entry point for precious metals investors
NEW ORLEANS (January 5, 2007) – Analysts at the Blanchard Economic Research Unit say a bull market for gold and silver is gearing up for another record year of price increases.
“We believe that the market is prepping for some significant increases over the coming months,” says Blanchard Chairman and CEO Donald W. Doyle, Jr. “The overall commodity sector has been sold off since the beginning of the year, but the investment case for precious metals has only become stronger. Gold mine supply figures are decreasing around the globe, central bank sales are continuing to slow, the ability to transact in gold markets around the globe has increased, and additional market transparency is on the horizon - the list goes on and on for positive market specific news.”
Doyle says the U.S. dollar is still the headline story for daily gold price movements, but overall supply and demand influences will eventually become the main driver for the price increases in the future. He added that Blanchard experts predict that gold will climb to $800 by the end of the first quarter of 2007, with silver following suit to reach a high of $18.
“Gold has been influenced greatly by a number of factors that don’t have much to do with the supply or demand side of the market,” Doyle says, explaining the recent price corrections. “The great thing is that it will give the individual investor the opportunity to enter the market at a lower point and enjoy the coming increases as prices begin to become more of a reflection of the supply and demand factors than peripheral influences. Too often, investors take a counterintuitive approach to the precious metals markets, selling low and buying high. With the current dip in prices there is a great opportunity to change that behavior.”
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Copyright © 2013 Blanchard and Company, Inc.
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