On December 3, 2009 gold set a new record close of $1,218.30.\u00c2\u00a0 Since then gold came down to the $1,050 range then ran all the way back up to break the record on May 11th, 2010.\u00c2\u00a0 Gold\u00e2\u20ac\u2122s last price that day was $1,227.40.\u00c2\u00a0 Since then gold has hovered around that price never going higher than $1,240 and not lower than $1,225.<\/p>\n
We are now in uncharted territory<\/a>.\u00c2\u00a0 There is no resistance on the top of gold so technically speaking we don\u00e2\u20ac\u2122t really know how high it will go from here.\u00c2\u00a0 Some experts are calling for $2,000 per ounce by the end of this year.\u00c2\u00a0 Some more conservative estimates are between $1,300 and $1,500.<\/p>\n There are a few factors that are playing a role in gold breaking records.\u00c2\u00a0 These are timing in the bull market, inflation and supply and demand.<\/p>\n We are only in the second phase of a three phase bull market so look to see higher and higher highs.\u00c2\u00a0 New records will continue to come.\u00c2\u00a0 However to compare the current record price to the $850 per ounce high in January of 1980, one must adjust for inflation.\u00c2\u00a0 If we do that gold would need to break $2,300 per ounce to really be considered a new all-time high.<\/p>\n The dollar has lost much of its purchasing power<\/a> since 1980 and look for that trend to continue.\u00c2\u00a0 Some say that it is planned because it is the only way that our country can afford its debts.\u00c2\u00a0 It only takes 4% inflation for 17 years to cut the debt (and the dollars value) in half.\u00c2\u00a0 We all know that 4% inflation is pretty easy to achieve.\u00c2\u00a0 As inflation<\/a> picks up expect to see gold follow.<\/p>\n Only a small percentage of Americans own gold.\u00c2\u00a0 As fears continue to mount amongst concern for the dollar and other fiat currencies, more and more Americans will acquire gold.\u00c2\u00a0 This new demand will also contribute to higher gold prices.<\/p>\n Gold will be much higher than it is today before this bull cycle is over.\u00c2\u00a0 Rob McEwen of U.S. Gold believes gold will hit $5,000 per ounce sometime between 2012 and 2015, and he is known for his timely predictions.<\/p>\n","protected":false},"excerpt":{"rendered":" On December 3, 2009 gold set a new record close of $1,218.30.\u00c2\u00a0 Since then gold came down to the $1,050 range […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[35,1421,83,86],"class_list":["post-277","post","type-post","status-publish","format-standard","hentry","category-blog","tag-bullion","tag-gold-prices","tag-inflation","tag-invest-in-gold"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=277"}],"version-history":[{"count":0,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/277\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}