Gold Prices 2011
The gold prices 2011 that closed in New York on the 14th of January was at a spot price of $1361.80. While this price is not the predicted $1650 price that Jim Sinclair thought it would be with his $1,000,000 bet, but it is approaching that point.
The current gold prices today are fueled by the economic recession, inflation worries, and political unrest that have hampered America for the past couple of years. As in the past during other uncertain economic times, gold has been the safe haven for investors like it is today. The result is higher gold prices the nation and the world have seen in the last couple of years.
Some of the forecasts for the price of gold to rise to over $5,000 might seem farfetched, but their reasoning is sound. If inflation rises to double digits and local currencies are then dramatically reduced in value, the only way to save the values of what has been saved is in a physical object like gold and platinum.
A few of the more reasonable sounding predictions keep the rise in gold prices to between 12.4% and 19%. The main deciding factor will be how fast the American and world economies recover from the greed recession that the banking industry caused in 2008.
What is going to be fueling the rise in gold prices in 2011 will be how much of a currency war between China and America reaches, and the insolvency of the European Union member states with their debt problems.
Many are betting on China sustaining their dominance on the world stage as an economic power, but this same situation of China being the number two economy of the world has existed in the past. They then falter and are replaced by another budding economy and never have reached the number one statues.
What is an almost certainty is that gold prices 2011 will remain high while the world deals with the new global economy and all the infighting amongst nations on their search for a better life at the expense of another country.
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