The month of December has been slightly rough on gold, with prices falling 16 percent since achieving a record $1,900 an ounce in September. Even so, financial analysts worldwide predict gold prices will gain luster in 2012.
“The financial sector is buzzing over gold’s forecast this year. Many investors are certain that gold prices will rise – and perhaps hit new records – particularly in the second half of 2012,” said Chadwick Hopkins, president of C.D Hopkins Metals Division.
The 2011 year was full of highs and lows for gold. Prices kicked off the year at $1,412 an ounce, hit a low right out of the gate at $1,314, and then vacillated to an intraday high of $1,923 an ounce.
Gold experienced a significant amount of activity in the month of September alone. Gold prices reached $1,900 an ounce early in the month, declined below $1,600 later in the month, rebounded strongly, and then dipped below $1,600 in December. That's a 16 percent decline in three months. Even so, gold is up as a whole in 2011 – and sits steady at $1,600 an ounce as of Dec. 22.
“The reason for gold’s December setback is largely because of the volatile situation in Europe surrounding the debt crisis,” said Hopkins. “Investors slightly switched gears and gravitated toward the dollar.”
The euro debt crisis continues – and the U.S. economy still struggles to gain fortitude – factors that will continue to affect the price of gold in 2012.
“Investing in gold offers a safe haven against market volatility and as a store of value,” advised Hopkins. “Some sources say gold will even transcend $2,000 an ounce in the second half of 2012.”
With such a positive outlook expected for gold in 2012, C.D. Hopkins Metals Division recommends that investors add precious metals to their financial portfolios. The Los Angeles-based precious metal retailer sells gold, silver, platinum, and palladium – as well as base metal copper – for immediate delivery or for secure storage at an independent depository. Go to http://www.cdhopkinsmetals.com/
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About C.D Hopkins Metals Division
C.D Hopkins Metals Division is a leading precious metals dealer and financing institution located in Los Angeles, Calif., specializing in gold, silver, platinum, palladium and copper. With a C.D Hopkins Metals Division account, you can purchase precious metals for immediate personal delivery or arrange for convenient storage at an independent bank or depository. C.D Hopkins offers options for financing and selling your precious metals and expert account representatives to fulfill your investing needs. To find out how to open an account, visit http://www.cdhopkinsmetals.com/