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Tuesday, June 07, 2005

Gold Price of $700 predicted for 2008

"The price of gold is set to rocket", says Andisa gold analyst Dr David Davis.

Davis's report titled 'A trilogy of gold - an exploration in three parts', suggests that the gold price will reach $1200 an ounce by the end of 2015.

David Davis predicts the gold price will be $700 an ounce by 2008, a year later he preidicts it will climb to $750 an ounce and another $50 an ounce to reach $800 an ounce in 2010.

Nicola Mawson Senior Online Writer with engineeringnews.co.za says on "These predictions answer the question blazing through the industry currently: what will gold sell at and what will shares be worth in 10 to 15 years' time."

Davis looks at the current gold price, historical gold price trends in mining operations and historical supply and demand patterns in the 55-page report.

Davis says supply is falling behind demand and fewer reserves are being mined as resources diminish.

"Not a new phenomenon, but previously this trend has been masked by Central bank sales and producer hedging - a dying practice" says Nicola Mawson.

When this ceases, says Davis, economies of the age-old supply/demand equation will take over and flame the price of gold.

Davis says this will mean investors having to be in the right place at the right time to make money buying gold.

Read more of Davis's analysis and predictions for US Dollar weakness, declining gold production and the future gold price.

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