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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Gold price to double in price and surpass its inflation-adjusted high of $2,500

Commodities / Gold and Silver 2015 Oct 06, 2015 - 03:35 PM GMT

By: GoldCore

Commodities

The bullish outlook for gold prices was covered by Dow Jones Marketwatch yesterday.

“Gold prices may be ready to make a significant move higher as holdings of the precious metal in the SPDR Gold Trust exchange-traded fund climb to their highest level in more than two months.”



GoldCore believes that gold may have “bottomed in the summer,” and could climb to as high as $1,300 an ounce by the end of this year.  Longer term, O’Byrne expects gold to “double in price and surpass its inflation-adjusted high of $2,500 per ounce in the next 3 to 5 years.”

The metal “remains undervalued when compared to assets such as stocks, bonds and property—all of which have surged in recent years,” he said.

The full article from Marketwatch can be read here – Gold may be on verge of ‘breakout’ higher as ETF holdings rise.

DAILY PRICES
Today’s Gold Prices:   USD 1136.90, EUR 1014.55 and GBP 749.19 per ounce.
Yesterday’s Gold Prices: USD 1114.20, EUR 998.66 and GBP 735.69 per ounce.
(LBMA AM)


Silver in USD – 1 Month

Gold finished marginally higher yesterday, extending gains to a second straight session and consolidating on Friday’s price gains. Gold bullion is trading near $1,140 in London today after climbing to a one-week high of $1,141.80 yesterday.

Silver was a further 2.9% higher yesterday to $15.71 an ounce building on the 5.2% surge on the Friday. It is 0.15% higher to $15.80 today.

Platinum and palladium are also higher – up 0.8% and 0.3% respectively.

Download Essential Guide To Storing Gold Offshore

This update can be found on the GoldCore blog here.

Mark O'Byrne

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WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

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