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November 3, 2009

November 3, 2009 – Gold and silver prices have climbed consistently throughout the last few years, and American economists had called for these two precious metals to reach lofty heights before the completion of the current cycle. Gold, silver, and other commodities tend to rise when investors lose faith in the dollar, because investors must spend more dollars to receive the same amount of a particular commodity. Gold and silver price projections have come from a wide range of sources, and below I have listed some of the more conservative estimates that have been recently released.

Gold

• JP Morgan recently released a note which said that the gold spot price could reach $1100 per ounce before the end of the year

• Franklin Sanders with The Moneychanger believes that gold prices could reach $1200 per ounce by mid-February 2010

• Capital Markets strategist Matein Khalid has stated that he would not be surprised to see gold prices surpass $1,200 per ounce in 2010

Silver

• Bank of America said last month that silver could reach $20 an ounce in 2010, which would be a 22% increase over today’s levels.

• Writers at www.SeekingAlpha.com believe that silver will reach $35 per ounce in the current cycle

• Silver analyst Chris Weber believes that silver could reach a minimum of $26 per ounce in the future

Investors who believe that gold and silver will increase in value should contact a reputable precious metal exchange to learn more about proper portfolio diversification; now may be the right time for you to invest in a back-up plan. 

Shannon King

Senior Staff Writer – GoldSilver.org

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