Thursday, January 12, 2006

Gold Price going to $850 before the end of March 2006

With gold prices hitting 25 year highs, perhaps you are thinking now might be a good time to sell those Krugerrands, Canadian Gold Maple Leafs or American Gold Eagles you have tucked away.

Before you call up your gold dealer and get a price for your gold coins you might want to read what James Turk the author of the Freemarket Gold & Money Report is telling his readers in his most recent newsletters.

James Turk made this gold price prediction in his January newsletter:
"I do not anticipate gold will again trade below $500 ever. In other words, gold prices in the $400s are history, just like gold prices in the $300s are history."

Since the gold price broke above $500 it has risen almost 10% in a few short weeks.

James Turk's forecast comes at a time when many other so called experts on gold are calling for a top in the gold price. No doubt they will be proven wrong, just like they were proven wrong when they called for a gold price correction many times before, at prices much lower than today's gold price.

James Turk's gold price prediction for 2006 is for a new record high for gold above $850. However, what is even more interesting is what Turk said in his most recent newsletter, "I am now thinking that we might see that new record high before the end of March." wrote Turk.

So perhaps now is not such a great time to sell those gold coins after all. As James Turk told his readers "get ready for some huge and exciting fireworks."

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