Gold to Post Fresh Highs in 2007 and 2008?

Source:

There is a good chance that the market in 2007 will exceed the 2006 high of $725.

The mood at the London launch of the GFMS Gold Survey 2007 report was bullish about the short and medium prospects for gold. Chairman Philip Klapwijk noted in his presentation that: The annual average gold price this year is looking very likely to break the previous record set in 1980 of $614.50.

There is a good chance that the market in 2007 will exceed the 2006 high of $725.

The upward trend is likely to continue into 2008.

The principal driving factors behind the strength of the market were seen as sustained investment demand, lower official sector sales and ongoing dehedging by producers.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe