Outlook for gold prices

The price of gold is currently consolidating around above $1550/oz. I fully expect that the price will move higher, though I see no hurry in this regard given the current crisis in confidence. The ultimate strength of gold will be the twin issues of:
1. Greater economic confidence
2. Lower interest rates - low bond yields
3. Few other places to place your money - aside from Asian/Latin American property yields

From this chart, you can see scope for a short run rally to $1650/oz, but we will eventually see a rally in around 1-2 years to $2400/oz. Watch for that break-out!

Source: Kitco

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Author Andrew Sheldon| Applied Critical Thinking | www.SheldonThinks.com