|
| |
|
|
Gold
Articles and Information
|
|
 |
Britons are not alone in being
aware that they are facing the very real prospect of unprecedented and
frighteningly bad economic times. All across Europe and on the peripheries
of Europe there is unease about the state of nations’ economies. And
according to some of the most senior analysts at Citigroup, if the efforts
that governments are currently committing to to drag their nations out of
economic meltdown fail, we could enter: “a downward spiral into depression,
civil disorder, and possibly wars.”
So, could gold sell for up to two thousand dollars an ounce? Again, the
analysts at Citigroup believe that this is possible as the gamble that
governments are currently taking could either fail and lead to the
aforementioned downward spiral of depression, or result in a resurgence of
inflation - with both outcomes likely to cause a rush for gold. |
|
| Citibank’s Chief Technical Analyst, Tom Fitzpatrick, has
commented on the fact that as the weeks pass and more and more frightening
facts are revealed about the terrible state of the world’s financial
markets, and as governments react in the most bizarre ways such as
attempting to borrow more and spend their way out of recession, so
confidence is being eroded. People are really beginning to feel that they
are having their backs pushed up against the wall and it is at this point
that civil unrest can follow. As Mr. Fitzpatrick points out: “There is a
risk of domestic unrest, starting with strikes because people are feeling
disenfranchised…what happens if there is a meltdown in a country like
Pakistan, which is a nuclear power?”
Gold traders are watching everything unfolding very carefully indeed,
they are aware that when the tough gets going every government in the world
will be looking at boosting gold reserves. There’s already talk that China
is thinking of boosting its reserves to the tune of some 3,400 tones, and
naturally this would not only have a positive impact on the value of the
commodity, it would probably persuade others to follow in China’s
footsteps. Having already tripled in value over the past seven years, gold
is currently way off this year’s high of USD 1,030 – but Citigroup believe
that everything could start getting very exciting as soon as final quarter
2009, and that yes, it is feasible that if we enter a state of global
meltdown that gold could sell for up to two thousand dollars an ounce. To
buy your own gold or find out more about trading this commodity, go to
www.bullionvault.com
|
 |
|
|
