“I’m sticking to my call that we’ve seen the seasonal low in gold,” declares gold adviser Ed Bugos. “I think the gold market is going through an important transition… the debate is shifting toward monetary stability.
“In the past few weeks, we’ve seen both the Federal Reserve and the European Central Bank lose a lot of credibility. Clearly, neither has the political resolve required to fight inflation. With both economies weakening, central bankers cannot afford to back up their inflation-fighting rhetoric… the fundamental fact behind my bullish gold price outlook.
“I expect gold prices to heat up as bear markets pick up around the world and recession looms -- regardless if the dollar firms up and oil prices correct. I think gold will be the best-performing commodity over the next 12 months, touching off a high of $1,200 this year, and $2,000 in 2009.”
“In the past few weeks, we’ve seen both the Federal Reserve and the European Central Bank lose a lot of credibility. Clearly, neither has the political resolve required to fight inflation. With both economies weakening, central bankers cannot afford to back up their inflation-fighting rhetoric… the fundamental fact behind my bullish gold price outlook.
“I expect gold prices to heat up as bear markets pick up around the world and recession looms -- regardless if the dollar firms up and oil prices correct. I think gold will be the best-performing commodity over the next 12 months, touching off a high of $1,200 this year, and $2,000 in 2009.”
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