Precious Metals Experts Predict Gold To Hit $1,500 Within Weeks

April 14, 2011 - PRLog -- Gold and silver prices regained momentum Wednesday on powerful physical buying as investors took advantage of current sell offs. Gold for June for delivery added towards the cost of gold also to settle at $1,455.60 an ounce in the Comex division from the New York Mercantile Exchange. The gold cost has climbed to $1,463.70 whilst the spot gold cost was adding $2.90, based on Kitco's gold index. Visit http://silver-dollar-values.com for more silver and gold tips.

Silver prices rose 17 cents to close higher than $41 an ounce. Gold prices had fallen 1.3% this week as broad promoting hit the commodities sector, nevertheless the metal was rebounding Wednesday as investors stepped in to buy gold at a discount.

"Whenever we see just a little sell off within the gold marketplace, what is historically followed is some physical purchasing which has propped up the cost," says Will Rhind, head of U.S. operations for ETF Securities. Rhind nonetheless thinks gold prices could hit $1,500 but that investors will have to be patient. Visit http://silver-dollar-values.com for more silver and gold tips.

I don't believe that $1,500 is off the table but that gold ought to soon break that level on current catalysts. Based on the newest commitment of traders report, speculative longs in gold elevated by 17,449, or 7.2%, from the final week in March to the extremely initial week in April, whilst short contracts grew 5,864, or 11%, pointing towards this much more cautious trading outlook.

The U.S. dollar index was slightly lower Wednesday but then climbed greater following President Obama's spending budget speech outlined $4 trillion in cuts more than 12 years. Gold kept increasing tentatively following the Federal Reserve released its beige book report that indicated the economic system was enhancing across the nation but there had been no game changers inside the report for low interest rates. Gold will also appear to Friday's inflation readings out from the U.S. and China for path. Visit http://silver-dollar-values.com for more silver and gold tips.

The Federal Reserve is expected to maintain rates low but China could take a lot much more actions to tighten money provide, producing Friday's inflation studying crucial to policy initiatives. The Chinese state run newspaper reported Wednesday that China will earnestly implement its prudent monetary policy ranging from rate hikes to greater reserve specifications.

As silver looks to $50, gold is looking to $1,500, which seemed like a far-fetched dream for a few weeks, because the metal couldn't conquer the $1,450 level. Now it has and numerous specialists believe the $1,500 level will most likely be reached in days or, at probably the most, weeks.

Safe-haven demand is top the charge, as investors are prepared to safeguard themselves throughout a feasible government shutdown. Japan's 7.1-magnitude earthquake also left investors using the notion that something can occur, so gold and silver becomes attractive to hold. Now will be the perfect time to buy gold and buy silver as a secure haven for the wealth.

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