Gold News

Analysts support $1,000 gold predictions

Two analysts have added to forecasts of gold bullion passing the $1,000 an ounce milestone in the near and longer-term future.

Royal Bank of Canada Capital Markets has said that it expects macro and investment fund buying to help drive gold prices past the $1,000 point in the next few months, Mineweb reports.

Meanwhile, Bank Credit Analyst Research has looked further ahead to predict that gold prices could exceed the $1,000 an ounce mark by a "significant" amount in 2009.

"One aspect we believe is not priced into the commodity, nor the gold equities, is increased inflation expectations," analysts at the firm state.

The predictions come amid a growing sentiment based on the idea that the yellow metal could continue to climb for some time.

Earlier this week, David Ranson of H C Wainwright & Co Economics wrote in the Wall Street Journal that he doubted the current gold bull market would end any time soon.

Meanwhile, Charles Ober of the T Rowe Price New Era fund recently told the Washington Post that as gold has traditionally underperformed in the past it is possible that it is capable of going even higher than its current record levels - potentially good news for those with gold investments.

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