Gold to reach $1,800 by next week?
http://bit.ly/w14Bv6
By Jeremy Holcombe Contributing writer for Goldco Direct and End the Lie Gold has been on a very nice run to open the first couple months of this year. As of right now the general consensus is that gold will continue to perform strong and will more than likely hit $1,800 per ounce during some time next week. While I am on board with the fact that gold should continue to perform well, I am not going to say that I am 100 percent sure that gold will hit $1,800 per ounce during next week. I do think it has a good chance, and if the news out of Greece continues to be good, then the yellow metal does indeed have a fantastic chance of hitting the $1,800 per ounce price mark and perhaps even higher. Besides the issues in Greece, another culprit has been playing a part in the price of gold lately. As strange as it may seem, tensions in Iran are causing gold to spike higher, as well as oil for that matter (although that one isn't quite as surprising). The continuing issues in Iran may allow gold to jump faster in price than we initially thought it might. “Increasing tensions with Iran could send both oil and gold much higher and copper lower. Given present trends, $135 per barrel Brent crude is compatible with $120 per barrel WTI (West Texas Intermediate) crude, $2,000+ per ounce gold and $40+ per ounce silver,” said Richard Baker, editor of the Eureka Miner. As I stated above, I am not entirely on the bandwagon that thinks gold will hit the $1,800 per ounce price mark by next week. I actually feel it will struggle to get there, at least this soon, as there are other pressing issues which very well might prevent the yellow metal from reaching this high of a price range this early into 2012. “The gold market has steadily been going up without there being a correction… and the lack of physical flow will probably send gold down; it will be a good opportunity for the market hunters to buy gold before it goes up again,” said Afshin Nabavi, head of trading at trading house MKS Finance. So you may want to make a quick decision when you see how gold does early in the week next week. I believe that either way you should hang on to it no matter what, as it is very hot right now. However, if the price does actually drop some, then take that opportunity to snatch more gold up, especially physical gold if you can. The above article is for informational purposes only and is not a solicitation by End the Lie or Goldco Direct . It is the commentator’s opinion only and not intended for investment recommendations, and does not necessarily reflect the views of End the Lie or Goldco Direct . Any references to outside sources are believed to be accurate. Past performance is not a guarantee of future results. All commodities involve risk. Investors should consult their financial adviser before making any investment decisions.