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Stronger Gold Forecast for Next Two Years
October 09, 2007

As reported in Reuters today, two major factors contributed to today's raising of the UBS 2008 and 2009 gold price forecasts. UBS noted that increased demand for gold in the jewelry trade even in the face of rising prices, along with an expectation of increased demand for gold as a speculative investment, indicate that the market has settled in to current price levels. With the comfort level raised, the floor seems more solid, making only smaller adjustments likely for the foreseeable future.

The previous UBS forecast called for $650 gold in 2008 and $550 gold in 2009. The new forecasts are for $760 gold in 2008 and $700 gold in 2009, indicating a higher fallback benchmark over the two-year period.

This added confidence in the reliability of gold as a long-term investment, in addition to the general attitude of gold as an inflation hedge, should invigorate those already looking at, or participating in this precious metals market.

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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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