At the beginning of every year the “experts” come out with their predictions on the precious metals market. These predictions vary every year in their overall gold price target and timing, and should be taken as an estimate, a guide for your strategy. Never the less what is being predicted for 2010 is very exciting for those who own gold or may consider to buy gold coins this year.

James Turk

James Turk is well known for his predictions in the precious metals market. Since the 1970’s people have followed him religiously, in order to guide their decisions in the gold market. Mr. Turk got the price target for 2009 correct. He stated that gold would break $1,000 per ounce and hold above it into 2010. He is calling for gold to break $2,000 per ounce in 2010. The timing is not clear, just that it will break $2,000 this year. He also calls for a floor under gold of $1,050 per ounce, which is the price at which India bought 200 metric tonnes from the IMF at. He also states that we are in the second phase of a three phase bull market.

Rob McEwen

Rob McEwen is the chairman and CEO of U.S. Gold, a gold mining company. He was recently seen on Bloomberg and stated that he believes that gold will go to $2,000 per ounce this year and that it will go to $5,000 per ounce between 2012 and 2014. He states that this is due to the U.S. government printing dollars at an alarming rate and a lack of supply to meet worldwide demand.

Frank Holmes

Frank Holmes is the CEO of U.S. Global Investors. He states on Market Watch, that gold could break $2,300 per ounce which is its inflation adjusted high of $850 per ounce in 1980. He believes that this will be due to a shrinking supply of gold and worldwide inflationary pressures. He does not say exactly when this will occur, but that he believes that it will occur.

There are many more predictions that you can find if you search for them. Even Merrill Lynch is predicting higher gold prices for 2010. This is encouraging news for those that own gold or are considering entering the market today. If someone bought gold today at $1,133 per ounce and it went to $2,000 an ounce by the end of 2010, that would be an increase of 76%!