Friday, January 23, 2009

Gold Prices in 2009

I'm sitting here looking at gold hovering at $896 an ounce after a $40 jump just today. Last year it topped $1000 and now it's poised to pass $900 again. So where will it end up in 2009?

As the economy contiues to vent ballast in a desperate effort to resurface will people start the serious hoarding that tips supply and demand on its head and pushes gold straight through the roof, or will things settle out sooner than the experts predict? My guess is we see it over $1000 again in '09, maybe even around $1100-$1200, but I wouldn't be shocked if it hit $1500 an ounce.

I'm not a speculator, nor do I actively follow the markets, but I have a hunch it's going to go up again. I wasn't too far off with my predictions last January...

2 comments:

Ryan said...

Yes the price has defiantly gone up! good blog and keep up the good posts. big hello from the land down under!
Cheers
Ryan

eat said...

Thanks Ryan, and a big hello to you too!