Gold: About $640 /Ounce - The Debate: Priceless
Gold starts the new year just at about $640 an ounce. But where will it end the year? Soaring or stumbling? We asked the editors of two highly rated investment newsletters who hold widely differing opinions.
Kevin Kerr is Editor of Resource Trader Alert, He's a gold bull and believes ETF(exchange-traded funds) and Central Bank gold buying will drive gold higher.
He says “There is so much interest in this medal we see it climbing.” He added, “We did see a major correction last year but that’s because there are new investors in the market who couldn’t handle the shakeout.”
Doug Jimerson is Strategist at National Trendlines and he’s not a gold bull. That makes him a gold bear.
He said, “Last year we saw a big reversal in gold. I’m a big picture investor and when I see big reversals I have to be cautious. I see gold trading between $540 and $650 next year and I think there is potential to hit that low."