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Marek Kuchta worked as a business analyst, a marketing manager and currently runs the Gold in Mind project. He's interested in long-term investing and retirement investment strategies. “Considering the state of Western economies, it worries me that reportedly less than 1% of citizens include... More
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Gold Updates – Gold Price Forecasts & Gold in Mind Blog
  • Quick Update: gold price nearing $1,300; 96 forecasters see gold above $2,500; updated gold dealers review 0 comments
    Sep 23, 2010 12:15 PM | about stocks: GLD, SLV, IAU, GDX, GDXJ, PHYS

    Gold price near $1,300, silver breaks $21

    This week, gold touched the $1,295 mark and set a historical record high. Those who bought gold in 2009 have so far made a dollar profit of up to 59% ($813 to $1,295). There is a wind of change in the market and we are seeing unusual phenomena such as stocks, bonds and gold/silver moving in the same direction. Whatever that means, keep in mind that change usually implies increased uncertainty. If you care about your savings, this is the time to be alert. As Chris Martenson pointed out this week "literally, almost anything could happen, at any time."

    96 forecasters see gold above $2,500 in not too distant future, 55 of them above $5,000

    Gold has been a traditional hedge against uncertainty and that's probably why so many forecasters are now so optimistic about the gold price (and less about the economy). Lorimer Wilson of MunKnee.com has identified 96(!) analysts who predict gold price of $2,500 and higher within the next few years.

    Gold dealers review

    To make buying gold easier, Gold in Mind has updated and extended the precious metals dealers review. The review of APMEX, Blanchard, Gainesville Coins, Kitco and the United States Gold Bureau now features a direct price comparison of these five major A-rated American dealers. We have calculated the total cost for typical purchases of 1/4 to 5 ounce gold coins so that everyone can find the best deal for their intended purchase. We are happy to conclude that today it is very easy to buy gold at low premiums above the spot, from dealers who really care about their clients.

    Themes: gold price, economy Stocks: GLD, SLV, IAU, GDX, GDXJ, PHYS
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