globeandmail.com : Gold to surpass $800: survey: "Gold to surpass $800: survey
WENDY STUECK
Globe and Mail Update
Strong investment demand will continue to drive gold prices to new highs this year and could see the precious metal surge past the $800 (U.S.) an ounce mark, consulting firm GFMS Ltd. said Wednesday in an annual survey of the gold sector.
�Levels safely over $600 are now in our sights and further hefty gains over the next year or two are quite possible,� GFMS spokesman Philip Klapwijk said in a summary of the survey's findings. �In the right circumstances, the 1980 high of $850 could even be taken out.�
This year's bull run will be overwhelmingly driven by investment demand, the firm said, propelled by some of the same factors that helped push gold prices higher last year, including the high probability of a sharp slowdown in U.S. economic growth and a slide in the dollar."
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