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Experts Predict Bright Future For Gold, Silver Prices

July 26, 2011 by  

Gold prices are expected to soar in coming years.As the United States economy continues to struggle and the sovereign debt crisis in Europe continues, some forecasts for gold and silver prices are highly optimistic.

Newedge USA LLC predicts that gold prices, which right now are hovering around $1,600 per ounce, will soar to $1,800 per ounce by year’s end, reports Bloomberg. The Paris-based brokerage firm also predicts that silver — which has touched nearly $50 per ounce this year — will reach $70 per ounce by the end of 2011.

“Gold is an excellent hedge in troubled times,” Mike Frawley, Newedge’s global head of metals, told the news source. Frawley predicts that demand for both silver and gold will be “very strong long-term from Asia, and the economic trend in the West is improving.”

Standard Chartered Plc. is also bullish about the future of gold, predicting that the yellowish metal will reach $5,000 an ounce by 2020, in large part due to increasing demand in India and China, according to Bloomberg.

 

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  • Wapitiman

    Remember folks…that the value of precious metals is inversely proportional to the value of the dollar. What this article is saying is that we should ‘gird our loins’ for another bout of inflation. Thank you, congress (with a lower case ‘C’)for upholding your Constitutional mandate to protect the value of our currency. Is it any wonder that congress enjoys less respect than the local used-car dealer (no disrespect intended for used-car dealers!)

  • Cashpockets

    When the Paper Dollar manages to collapse (and it is a matter of when, not if it will collapse), then you will have very little to survive with unless you have physical Gold and/or Silver.
    If you don’t own Gold and/or Silver, then in reality you don’t have any real money.

  • oldbill

    I can’t tell you how comfortable I am being in this trade. I bought the gold and silver I have from 1998 to 2003. I wonder if any of these reporters actually own any gold, or if they are actually buying?

  • Bob

    It is not the price of gold and silver going up. It is the value of the dollar going down.

    • Bob Marshall

      Good Point!

      • Al Sieber

        I’ll 3rd that.

  • Sirian

    In reality it comes down to one very simple fact, gold & silver always have been and continue to remain as the most tangible assets we have access to – for now. Insofar as to what price levels they may reach in the coming months/years, that too is determined by many factors, not stickily the value of the dollar. Yes, that does play into the entire equation but again, it is not the sole determining factor involved. ETF’s and such may seem viable and profitable for now but in the end, and that is an unknown for sure, they too can disappear as quickly as flash paper. I would much prefer to have a 1928 Morgan in my hand over a piece of fancifully printed paper, wouldn’t you?

    • JW

      You probably mean a 1928 Peace Dollar, Morgans were discontinued in 1921. Also a 1928 Peace Dollar is a rare collector coin. You would have a better time spending a common 1922 or 1923 Peace Dollar. The US silver dollar contains 77% of an ounce of silver.

      • Sirian

        Oops, JW I stand corrected and openly admit to the mistake. It appears, for some unknown reason, was thinking of my parents – both born in 1928 – at the moment I typed in the year.

  • http://www.dailypaul.com John Cunningham

    You should really have three precious metals in your home safe: silver, steel, and lead. The silver should be in the form of American Eagles, since the local grocery store manager knows that silver dollars are worth a lot. The steel should be in the form of one of those devices that puts balls of lead between the eyes of the person trying to steal your silver!

  • Darrell Pryor

    When it comes down to staying alive,the person thats able to grow their food may be just as well off (or better)than the person that has gold or silver.after all, you Can’t eat gold or silver.

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