Gold prices are currently trading at the record level of $1,100/oz. Looking at the long-term loss of value in the dollar, and the damage caused by the financial excesses of the last quarter century, the question is whether this is just the kickoff phase for the precious metal. Many experts expect gold to trade above $1,300 by the first quarter of 2010. They ultimately see the correlation between peak gold and weak dollar resulting in gold above $2K. Gluskin Sheff Chief economist David Rosenberg thinks that as the world keeps losing confidence in paper currencies, and as investors worldwide seek safe havens from a declining greenback, there are reasons to be bullish on gold: (more)
Friday, November 13, 2009
David Rosenberg on How We Get to $2,750 Gold
Gold prices are currently trading at the record level of $1,100/oz. Looking at the long-term loss of value in the dollar, and the damage caused by the financial excesses of the last quarter century, the question is whether this is just the kickoff phase for the precious metal. Many experts expect gold to trade above $1,300 by the first quarter of 2010. They ultimately see the correlation between peak gold and weak dollar resulting in gold above $2K. Gluskin Sheff Chief economist David Rosenberg thinks that as the world keeps losing confidence in paper currencies, and as investors worldwide seek safe havens from a declining greenback, there are reasons to be bullish on gold: (more)
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