Bloomberg.com has a story today about the rocketing price of gold. First, a note on its current performance:
Bullion gained 13 percent since January, beating an 8.4 percent return on Treasuries, an 8 percent decline in the MSCI World Index of shares and the 10 percent slump in the S&P GSCI Total Return Index of 24 raw materials.
Then some speculation:
Gold may rise as high as $1,500 next year, 21 percent more than the $1,240 traded at 1:45 p.m. in London, according to the median in a Bloomberg survey of 29 analysts, traders and investors. Dan Brebner, an analyst at Deutsche Bank in London who is the most accurate forecaster so far this year, says the metal may reach $1,550.
How's that for exciting?
Read more at Gold Rallying to $1,500 as Soros's Bubble Inflates.
I hope you're on board!