Gold May Reach $1,000 An Ounce
June 6, 2009 · Posted in Gold Bullion News · Comment
June 5- Analysts report that Gold is expected to head to $1,000 an ounce in the next few weeks on investor concerns over a weakened dollar. While physical ownership is the preferred method of investment, exchange-traded gold bullion funds are also recommended but with perhaps a bit more market volatility. Gold for August delivery, the most-active segment on the Comex division of the New York Mercantile Exchange, added 0.2% to $986.30. The contract reached $990.20 on June 1, it's highest levels since Feb. 24.
The Rand Refinery, which mints South Africa’s Krugerrand coin, doubled its coin production in the first quarter of 2009 from 10,000 oz to 20,000 oz per week in efforts to keep up with investor demand.
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