When we look at gold five years from now, we will say gold was wildly cheap

The gold price climbed Wednesday ahead of the widely anticipated conclusion of the two-day Federal Open Market Committee (FOMC) meeting. The price of gold advanced $8.50 to $1728.30 per ounce as traders and investors prepared for a dovish post-FOMC policy statement from Chairman Bernanke. While a third round of quantitative easing may not be announced at today’s meeting, the Fed may prepare markets for an eventual resumption of the central bank’s asset purchase program. The broader stock and commodity markets also rose ahead of the announcement.

“When we look at gold five years from now, we will say gold was wildly cheap. What happens to gold is going to hinge on what happens to the dollar, and that is going to be influenced by what happens in Europe and monetary policy.”

The above comments came from Jason Schenker – president of Prestige Economics LLC in Austin, Texas and the fifth-best forecaster over the past three months in a Bloomberg survey of gold price predictions.

The price of gold is expected to rise to a new all-time high of $1,950 per ounce, based on the median estimate of eight of the top ten analysts over the past eight quarters, according to Bloomberg.

Jochen Hitzfeld – an analyst at UniCredit SpA in Munich who has been the most accurate forecaster tracked by Bloomberg over the past two years – commented that “There’s huge potential for gold in the coming years. Investors are buying gold. That’s reinforced by buying from central banks. Prices did run up a little bit too fast, but the drop was just a breather.”

Ronald Stoeferle of Erste Group Bank AG in Vienna, the second most-accurate forecaster, stated that “There is a loss of trust in the entire financial system and urgent need for safe-haven investment. The environment for gold is just perfect.”


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Malaysia Gold Investment

I found Gold Investment in Malaysia is a vary good tools to make profit when the market is down. I also found that Gold Price go up and down more slower compare to share market so to make money in long term, Gold is the right tools. This blog is all about Malaysia Gold Info and the way to make profi

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