article directory


Home | Top Editorials | Popular Content | Article Directory | Help/Faq's | Submit Articles | Account Login
Editorial Search







:: Main Articles :: Finance / Investing



Gold Price May Hit USD5000 in 2020
Finance / Investing Author: Elisheva Wiriaatmadja
Gold Price May Hit USD5000 in 2020
God price just hit $1603 which is its all time. According to Standard Chartered Plc the price of gold may soar to as much as $5,000 an ounce by 2020 as production growth slows down and demands from China and India increases.

Hong Kong based head of metals and mining for Standard Chartered, Yan Chen, said that they were looking for gold price to reach $2,000 by 2014. To an interview on Bloomberg Television, he said, "There is a chance that the gold price can be as high as $5,000 by 2020 as incomes in China and India rise."
 
Investors has caused this year's rally for gold bullion as the European debt crises continues to worsen and inflation accelerated in emerging markets.
 
Gold and silver price  have continued gaining. The spot gold price in London gained 0.4 percent to $1,600 and 12 percent at $1,597 in Singapore. Regarding the crisis in Europe, former US Treasury Secretary Lawrence Summers wrote at Reuters:
 
The European financial crisis has entered a new and far more dangerous phase. Where the crisis had been existential for small economies on the periphery of Europe but not systemically threatening to either the idea of European monetary union or to the functioning of the global financial system, it now threatens both European integration and the global recovery.
 
China is the world's largest gold producer and the demand here is expected to continue rising as economic growth boosts wealth and inflation rising at the fastest pace in three years. Even in India demand for gold will keep climbing as higher incomes spur buying more and more of this precious metal. Gold demand in India reached a record high of 963.1 tons in 2010, according to the World Gold Council.
 

Chen also said that gold production in the whole world will grow only 3.6 percent annually in the next few years. "The gold market will be in deficit in the next couple of years," he said, "The central banks are now back buying gold massively, turning from net seller of gold into net buyer."

 
Besides Standard Chartered, other gold price forecasters such as TheGoldForecast.com said that $1600 an ounce today is nothing. This is only the beginning. In one of their daily newsletters, and video presentations two months ago, TheGoldForecast.com explains how gold may continue climbing to $1600 - 1688 by the end of 2011. It is not the end of 2011 yet but gold price has already hit the $1600 an ounce mark.
 
The price of gold has climbed up with a few corrections for the past 5 years. Since 2006 gold price has gained $967.88 or increased by 152.61%. Within 1 year gold price gained $410.60 and only within the past 6 months, gold has increased $231.90 an ounce.
Total Views: 492 | Approx word count : 462 | 07/19/2011
Discover more about gold price and learn more about gold and silver by reading this article. You are sure to find what you are looking for about price of gold .





MarketersDomination Related Articles
Cutting Your Home Ins Premiums By: Evan Povich - Like health insurance for you and your spouse and children, homeowners insurance coverage isn't something to consider lightly. Not having the proper home owners insurance in place may have some serious repucussions. The wor...
Take An Additional 6 Discounts On Your Car Insurance Premiums By: Evan Povich - If you plan to get low cost car insurance there are so many places to go but settling on the right type of coverage with a good amount of discount may take more effort. The car insurance will protect you from being liable financially if y...
Photoshop For More Than Just Photos By: - Maybe you're under the impression that Photoshop is only for professional artists to get their photo editing work done more quickly. And, it is very effective for that purpose. Despite the fact that Photo shop is one of the best photo editing softwa...
How to get out of your financial crunch using cash advance By: Elisheva Wiriaatmadja - With these harsh economic times, getting a cash advance on your next pay check is a great way to let go of the agony that your family is facing. By filling out a simple application, you can have cash in your hand within a day, in many places. This ca...
The Fair Debt Collection Act know your rights By: Michael Thomas - A lot of people who find themselves experiencing debt issues are being bullied into paying money to their creditors. The Fair Debt Collection Act is designed to help end this treatment of individuals who owe money. The Fair Debt Collection Act set up...
US Credit Card Debt Outpaced by Loans for College Students By: Elisheva Wiriaatmadja - The Federal Reserve just released a report this month which states that the total amount of loans for college students have reached more than the total amount of credit card debt in the United States. The report shows that Americans owe $826.5 billio...
Home | Top Editorials | Popular Content | Article Directory | Support | Terms | Privacy | Account Login

Article Marketing | Article Directory | Article Spinning | Content Syndication | Article Distribution

© 2017, All Rights Reserved.
All other copyrights belong to their respective owners. Internet Marketing Forum