GOLD MAY REACH $1,200 AN OUNCE BY 2010!
Gold market action over the past five months has been absolutely stunning. From August 2005 to early February 2006, gold gained by 32%, climbing from $431 to a 25-year high of $572. The last time gold so gained strongly was during its legendary bull run from August 1979 to January 1980, when the price skyrocketed from $300 to an all-time high of $850.But just as important, recent months have confirmed that gold is now in a true international bull market. From 2002 to 2005, as our regular readers know, gold enjoyed what we call a secular U.S. bull market. During this period, the price in U.S. dollars but was relatively stagnant in euros, yen, francs, and other major world currencies.
Since August 2005, however, GOLD has been gaining dramatically in most major currencies as well as in dollars. Between August 2005 and January 2006, gold gained 31% in euros, 37% in Japanese yen, 27% in Swiss francs, 28% in Chinese yuan, and 31% in Australian dollars. As we explained in our December alert, this shift to an international bull market opens the door to a much higher gold price, and means the current bull market has room to run for years to come with anticipated projected prices of $1,200 to $1,800 an ounce by the year 2010!
AUTHOR -GR.
posted by Gold Futures @ 10:08 PM
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