Gold Continues To Shine As Price Level Above $2000/oz Predicted

With volatility continuing to spread across all markets, gold is poised to extend its best rally since the 1920s in the wake of Europe’s debt crisis, expectations of slowing economic growth, and rising inflation across the United States and abroad.

Many financial experts, including Edel Tully, precious metals strategist for Swiss bank UBS and one of the most accurate gold price forecast contributors to the London Bullion Market Association in 2011, has come out tipping gold prices to rally to levels above $2000 in the coming year.

“A time will come when a gold rush could propel the metal significantly higher than last year’s levels. The catalyst for that, given gold’s recent relationship with risk, is unclear. But quantitative easing in the euro zone has to be near the top of the list and so too is the risk of an increasing dovish Federal Reserve Open Market Committee,” said Tully.

As mentioned in last week’s post, the forecast for gold to return to seeing a “two” as the front number in 2012 is shared by Morgan Stanley, TD Securities, Bank of America-Merrill Lynch and SEB Merchant Banking. These banks see gold either averaging above $2,000 or at least trading to that level at some time during next year.

With prices poised to rise in the current economic market, gold is the safe-haven investors can rely on to protect their retirement accounts and other long-term savings in times of economic uncertainty.

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