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Gold Silver Forecasts

March 5, 2009 – Gold and silver forecasts for 2009 are looking incredibly impressive and investors are currently witnessing the majority of major financial institutions and market analysts shifting their opinions from either a bearish or neutral outlook to a fully bullish outlook on the future of precious metals. This is mostly due to the fact that people are losing confidence in their governments and currencies. For example, Merrill Lynch has increased their gold and silver forecasts to reflect increased inflation expectations, a shift towards liquid assets and of course, falling stock markets. They have officially predicted that the average for gold during 2009 could be $1000 per ounce while silver could be $14.50 per ounce. Although very realistic gold and silver forecasts, the majority of investors are looking towards the more speculative ones such as the one put out by Citigroup yesterday that projected gold to be around $2000 per ounce by this summer. There is certainly an increased bullishness about the market that is arising at a fast pace, and hopefully precious metal prices are directly affected by this optimism.

Today, precious metals are doing quite well after being on a losing streak for the last few days, and the gold spot price is currently at around $931.60 per ounce, an increase of $25.70 or 2.84% for the trading day while silver moves up $.32 to around $13.23 per ounce. It’s important to keep our eyes on the recent forecasts along with several external factors such as the United States Dollar and crude oil that could push prices even higher in the upcoming weeks.

Arthur McGuire

Senior Staff Writer – GoldSilver.org

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