"Look for a high of $1,900" this year, Mike Niehuser tells The Gold Report
I don't see much changing; higher
gold prices appear inevitable. I think that the lower end of the range is fixed, but the potential for higher price levels above my range are more than possible if there is a black swan event. For 2013, let's put down $1,500 to $1,800 for the
gold price and look for a high of $1,900 for the year. It may seem a little wimpy to keep $1,900 at the high end of the range, but a lot of things could tamp down
gold prices, especially in the near term. ...
In the big picture, a novice technical analyst may look at a 10-year
gold price chart and say that
gold has had its run, is losing momentum and should be ready for a long slide to historic levels. There may be some credibility in this assessment; certainly the government requires taking into account trailing averages for calculating resource models. This may be an argument but it's not realistic. We are not in the world of three years ago much less than 10 years ago. Besides, these nominal price charts are not real prices because they don't take into account inflation.
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