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Gold Silver Forecasts

April 24, 2009 – The latest gold and silver forecasts prove that the majority of market analysts feel bullish about the future of safe haven precious metals, and there are several important external economic factors that may continue pushing spot prices higher and higher throughout the year. The latest news is coming from India, reporting that their gold imports may more than double this month for the Akshaya Tritya festival, and this would mean an overall purchase of 50 metric tons as opposed to the 25 metric tons that was purchased last year. This significantly higher physical possession demand is predicted to continue supporting spot prices in the near future. In other news, fears that the United States Dollar may weaken in the short-term is eroding appeal for mainstream investments as wise investors began to stray away from stocks and bonds in exchange for something a little bit more historically preservative. Gold and silver forecasts are reflecting all of this data, so it’s important that we keep a close eye on these external economic factors in order to find out whether the metals will outperform mainstream financial markets.

By around 1 PM Eastern Standard Time, both precious metals are reacting quite well to the latest economic data, and the gold spot price is currently sitting at around $912.10 per ounce, an increase of $8.30 for the trading day while the silver spot price is currently sitting at around $12.90 per ounce, an increase of eight cents for the trading day. Gold and silver forecasts have been bullish since the beginning of the year, many saying that gold could reach $1200 per ounce while silver could reach $16 per ounce and higher.

Shannon King

Senior Staff Writer – GoldSilver.org

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