2009,Gold,Forecast,Gold,prices finance, share, loan 2009 Gold Forecast
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Gold prices have risen in each of the past seven consecutive years, the longest winning streak since 1949, according to Bloomberg. In 2008, while the Dow Jones Industrial Average was down 35%, gold bullion managed to squeeze out a gain of over four percent.In these pages of PROFIT CONFIDENTIAL, I turned bullish on gold in early 2002 and I've been bullish on gold ever since. From the beginning of 2002, gold has risen 197%, or a healthy compounded rate of about 20% per annum. As for the gold producer stocks, the various financial advisories we publish have picked several gold stocks that have more than doubled in price.Looking ahead, we continue to be bullish on gold bullion. In fact, if it were not for the threat of deflation that became so dominant in 2008, we believe that gold bullion would have closed out the year at well over $1,000 U.S. per ounce.While the bears will argue that gold bullion prices will be weak in 2009, because the recession will curtail consumer demand for jewelry, I see 2009 as another banner year for gold for these reasons:--- Depending on which statistics you believe, governments around the world have committed about $7.0 trillion to bailing out the economy. To finance this stimulus, governments are facing large deficits. The U.S. itself will auction off $2.0 trillion in debt this year. --- The world, especially its governments, is awash in debt. Currencies do not fare well under the pressure of severe government deficits. I expect a confidence crisis in several currencies in 2009, which will bode well for gold bullion prices.--- Ben Bernanke and the Federal Reserve have opened the proverbial flood gates of liquidity. Eventually, all this liquidity will result in inflation, which is gold's best friend.Gold bullion, and in particular quality gold producing stocks, will have a banner year in 2009, in my opinion.Profit Confidential---http://www.profitconfidential.com/LOMBARDI PUBLISHING CORPORATIONNews, Analysis, and Information Services Since 1986.One Million Customers in 141 Countries.Lombardi Publishing CorporationFinancial Publications Division350 Fifth Avenue, Suite 3304New York, NY 10118-3304---Copyright 2008; Lombardi Publishing Corporation. All rights reserved. No part of this e-newsletter may be used or reproduced in any manner or means, including print, electronic, mechanical, or by any information storage and retrieval system whatsoever, without written permission from the copyright holder. Article Tags: Gold Bullion
2009,Gold,Forecast,Gold,prices