Gold Price Outlook 2010
The gold price outlook 2010 is relatively good. Last year is a good starting point to see what will happen this coming year. With gold starting at about $900 an ounce last January and the current gold prices just below $1100 an ounce, gold has been a solid investment.
The current rise in gold prices started back in 1999 when it was at a 10 year low of about $250. Since that time the value of gold has continued to rise. The sharpest rise occurred during the current recession. This is when investors were losing millions in the stock exchange and were looking for a safe haven for their investment dollars. This is what gold has historically been, a safe haven from the greed of the Wall Street giants.
Most of the financial institutions that received bail out money from the federal government have already paid back the money. By having the ability to pay back billions of dollars, the banks are back on solid footing. This has not been translated into bringing the country out of recession since they are still not making a large amount of loans as of yet.
Without loans from banks, companies cannot expand and their stock prices will continue to lag. As long as this trend continues and the banks are not loaning out money for investments to those that need it, gold will continue to rise.
Some speculators said the $1000 an ounce was a ceiling that could never be reached. Presently, no one is saying how high it will go because it has already amazed everyone. That is nothing as compared to the greed of the financial institutions and their leading officials.
The gold price outlook 2010 is positive and will continue to rise until the federal government takes control of the banking industry. When the regulations now being discussed go into effect, the price of gold may stabilize. But the trust Americans have in the financial industry will probably never return.
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