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Analysts Bullish on Gold's Growth in 2011

Release Date: 
Thursday, December 16, 2010

 This year, gold prices headed for their tenth consecutive annual gain as investors continue to acquire gold among global economic uncertainty. Gold has risen 26 percent this year alone on fears of currency debasement and higher inflation. According to several experts, this "gold rush" should continue into next year.

Gold's rise in 2010 can be attributed to fears of Europe's sovereign debt crisis spreading, a lack of confidence in the greenback, the euro and other major currencies and low real interest rates, according to the Wall Street Journal. Bill O'Neill, a principal at Logic Advisors, contends that these trends should continue into next year: "All the factors that have driven gold higher--the uncertainties, commodities as an asset class, gold as the ultimate currency--I don't see that changing significantly."

In a report, analysts at Goldman Sachs affirmed that "as we look toward 2012, we find it timely to reiterate our view that at current price levels gold remains a compelling trade." The report asserts that gold prices could reach $1,750 an ounce by 2012.

This news article is independently provided by Brafton and does not represent the views or opinions of Goldline International, Inc. Although the information in this news alert has been obtained from sources believed to be reliable, Goldline does not guar­antee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

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†This material has been prepared for private use. Although the information in this commentary has been obtained from sources believed to be reliable, Goldline does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

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