Good news was reported by the eastern Victoria Mine this week on the latest assay results from their gold mine on the Maxwell Reef. In December, the assay results showed that a new sample was assayed at 137.4 g/t so more were taken for confirmation. With 12 more samples taken, the results proved that the mine is reaching a richer deposit of gold. The twelve new results were between 386.2 g/t to 0.50 g/t which overall had an average of 0.75g/t. This mine has been in production since the 1940s with its limits not reached yet.

But just like in December, there were those who are warning that the gold market is on the verge of collapsing. There is more of the same in January. A report from Credit Suisse issued on January 12, 2010 states that investments in gold ETFs will not be at the same level in 2010 as they were in 2009 and a bear market will occur. They also link the price of gold to the trading of the US dollar which is true, but not the only factor. The Credit Suisse also claims by their calculations that there is an oversupply of gold to the tune of 420 tonnes on the market.

This very well could be true, but gold prices are continuing to rise. If too many people keep predicting the fall of gold, perhaps it could happen. But at the moment, with the world’s economies still stagnated, the Gold Metal Prices 2010 should continue to climb. Gold is still the safe haven for investors in times like this.

Another factor that has influenced gold is the exporting power of China. This week they have become the world’s largest exporter. They took this position from Germany. The amount of increase by China in their exports was 18% over the previous year.

Since gold is sold in US dollars, a weaker dollar makes it more affordable for those with a stronger currency to purchase more gold. This is evident with the price still going up on the gold market.

Gold prices are not the only precious metal that saw an increase in value and since the close of the NY exchange on January 11, 2010, the spot price of platinum has risen 29% to $1,626.00 and palladium is up 7.0% to $443.00. Most analysts are still looking for gold to maintain a high level of return until investors gain more confidence in the economies of different countries around the world.

With the Spot Gold Prices 2010 continuing to rise, this is still a solid investment. Some are predicting a sharp fall this year while others are expecting the price to continue with an upward swing.

The reason gold is still on the rise is because the people of America have lost faith in their government. The banking industry has control over the economy and they are failing miserably. That is, unless you are a banker then you are on easy street.

The determining factor on the price of gold this year will be the economy. The American people are smart and strong willed. They will find a way to get the country back on its feet. The best way is to bankrupt the big bankers. Honestly. The government said last year that corporations like Citibank were too big to let fail. They were a major contributor to the recession, let them fail. Since the government will not do what is right, then it is up to the American people to do it. Only use small local banks that promise not to be taken over by the ruthless banker barons. This will put the power of the economy back in the hands of the people that actually do the work, the American worker. Manufacturing is the economy not banking.

The shift in power will be indicated in the gold prices. Where will gold be at the end of 2010? It is up to you, the American people.