GFMS Predicts Gold Prices to Top $1600 in Late 2011 or Early 2012

PRLog (Press Release) - Jan. 20, 2011 - Metals consultancy GFMS predicted last week that they expected gold coin prices to top $1600 an ounce in late 2011 or early 2012 as investment demands continue with the threat of inflation in the United States, Europe and China.

Philip Klapwijk, GFMS chairman, told a major news service that the sovereign debt crisis in Europe could spread to the United States and fuel the demand for gold coins as investors rush to buy gold coins and protect the value of their money.  He mentioned the loose monetary policy and massive budget deficits could impact the AAA investment grade bond rating of the United States.

The downgrading of United States debt could rock the markets and cause investors in mass to flee to the safety of gold coins.

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