Gold May continue to grow, especially if the dollar continues to weaken according to experts. Capital Gold Group found this on Bloomberg today:
“Gold, little changed in Asia, may gain as the dollar renews a decline, boosting demand for the precious metal as an alternative investment.
The Dollar Index, which tracks the greenback against the six major currencies including the yen, fell 0.2 percent, after climbing to the highest in more than two weeks. A rise in U.S. stocks also cut demand for so-called haven currencies.
“The gyrations of the gold price were influenced by the pattern of U.S. dollar trading,” David Moore, commodity strategist at Commonwealth Bank of Australia, said in an e-mail. Gold typically trades inversely to the U.S. currency.
Gold for immediate delivery traded little changed at $990.48 an ounce at 9:01 a.m. in Singapore. Bullion has risen 4.2 percent this month as the dollar slid 1.9 percent against the euro and 3.6 percent versus the yen. ”
I tend to agree with this. I do think it will continue to rise. I am predicting 1300 by next year at this time!
Capital Gold Group Full Story Here: http://www.bloomberg.com/apps/news?pid=20601091&sid=a6d4kCuGiraI