The price of gold is continuing its upwards trend this morning as high oil prices, dollar weakness, economic uncertainty and problems with supply have already pushed gold up over 16% in 2008 and over 44% over the past 365 days. Blanchard is projecting $1,150 gold by year's end - an additional 19% increase for the year.
"The movements of both the dollar and oil will continue to draw investment demand into the market, limiting dips to bargain hunting opportunities, and will ultimately propel gold to $1000/oz," said TheBullionDesk.Com analyst James Moore.
Yesterday, the Euro breach the $1.50 to the US dollar sending investors towards gold as a store of value and safe haven.
Donald W. Doyle, Jr.,
Chairman and CEO
David Beahm,
Vice Pres. and Director of Marketing and Economic Research
