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The GoldBugg Report - Gold over $900

January 15, 2008

Gold over $900, Silver breaks $16.50.

Gold and Silver shot up to record highs this week fuelled by strong buying on talks of further rate cuts by the Federal reserve. Some analysts are suggesting a rate cut of as much as 3/4 of a point while others conservatively expect a 1/2 point reduction.

John Embrey of Sprott Asset Management was quoted on BNN January 9, 2008 as saying "I can see $1,000 gold in the next two or three months." On Silver, Embrey was quoted, "I'm looking for a clean double this year. We're in the early throes of a serious monetary debasement. It will attract investment in precious metals, and silver [will] be the major beneficiary, trading up as much as a buck in a single day. Demand for silver is solid, but you can't get more production. Labor shortages in the mining sector are a critical issue. Silver is a coiled spring [that is ready to unwind], and the everyday market doesn't have a clue. I'm predicting $30/oz [silver price] this year."

James Turk of the Freemarket Gold & Money Report forecasts that in 2008, "Gold will finally break into 4-digits, which will be an event that gains worldwide attention."

We currently have the majority of the leading Precious Metals Experts from around the Globe forecasting Silver prices to reach conservative highs of $25-$30 this year and Gold to reach $1000 - $1700. Although the general public and mainstream media are beginning to speak of Precious Metals, how many people do you know that are invested in Precious Metals? The Bull Market has only just begun!

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The GoldBugg Report - Gold over $900
Posted by Worldwide Precious Metals on Tuesday, January 15, 2008