Dundee Economist Says Dollar Diversification Will Turn To Gold

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Respected metals price and currency forecaster Dr. Martin Murenbeeld Tuesday predicted a stronger gold price in 2007, an overvalued U.S. dollar currency, limited supply and higher gold investment demand.

Respected metals price and currency forecaster Dr. Martin Murenbeeld Tuesday predicted a stronger gold price in 2007, an overvalued U.S. dollar currency, limited supply and higher gold investment demand.

During a presentation at 2007 Mining Indaba in Cape Town, Murenbeeld, Chief Economist of Canada’s Dundee Group, forecast a 2007 gold price ranging from $674 to $707 to $755 per ounce.

He asserted that the U.S. dollar exchange rate was significantly overvalued, ranging between 15% and 35%, while the current U.S. account balance had risen to 7% of GDP from 3% a couple of years ago.

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