Gold Prices Prices Will Continue to Rise Predicts Dominion Provident Ventures, Inc.

PR Log (Press Release) – Nov 29, 2009 – The investment team at Dominion Provident Ventures, Inc. has been monitoring the soaring price of gold, and is pleased to inform investors of another strong week. The price of gold has more than quadrupled in the last ten years; in 1999, New York gold futures were near $250 a troy ounce. By Friday, they had quadrupled to $1,055.60, just off the New York late-day record of $1,064.20 on Oct. 13, making gold one of the best investments of the past 10 years.

Even some of gold's fans are worried it might be getting ahead of itself. On a nominal basis, New York gold futures have far surpassed their past record of $825.50 hit in January 1980. This has not slowed world-wide demand, however.

Adjusting for inflation, however, gold would have to double to $2,291.55 to reach its 1980 high, which the investment team at Dominion Provident believes means it could go much higher before becoming expensive compared with its price during other troubled, recessionary times.