goldGold prices rose to a record high Tuesday, up about 2% to $1,271 an ounce on the December contract. Gold has risen about 15% this year.

Gold prices
could reach a record $1,300 an ounce later this year as investors fearing debt crises and potential inflation from interest rate cuts put more of their money into the precious metal, according to a report in Reuters Tuesday.

Gold could "easily" surge about the $1,300 by the end of the year and increase further in 2011, the wire service said, citing GFMS Ltd. Chairman Philip Klapwijk, whose company published the report. While the U.S. has avoided the sovereign-debt crises that have impacted other parts of the world, that may change, potentially causing devaluation of the dollar, Reuters said, citing Klapwijk.

GFMS's forecast could spur gold investment, which fell 40% for the first half of the year from record highs a year earlier.

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Richardallenbuys

For the very first time EVER gold had surpassed the $1300 per ounce mark! Since the average American has over $1000 of old broken chains, class rings, etc in their jewelry box, NOW is the time to sell. "Most customers come in with a box or bag or broken gold earrings, class rings and a few twisted chains and leave with more than $1000" says Rick Kleinvehn, President of http://www.cashfordiamonds.com, a division of Richard Allen Jewelers, Hoffman Estates, IL. "We also have clients from around the country that mail in their gold items, then we wire them funds the day that the package is received. We are now paying an amazing $22 per gram ($34.10 per pennyweight) for 14K gold, the highest in the 20+ year history of our company" "By paying 90% of the gold market every day, people seek us out from all over the country. Most gold buyers out there are paying 33-50% of the market" It is always best to check out ANY gold buyer at bbb.org, Kleinvehn suggests

September 24 2010 at 9:41 PM Report abuse rate up rate down Reply
itacurubi

Gold may go up for a while, but it'll be at $400 or $500 within a few years. It will be a long time before there is significant inflation and as soon as that fact becomes clear, gold will tumble.

September 15 2010 at 8:31 AM Report abuse rate up rate down Reply
rivasernie

B-b-b-but we were told that the recent price of gold is at the bubble stage and was ready to burst. Experts have been telling us this for the last 6 years.

September 15 2010 at 1:08 AM Report abuse rate up rate down Reply
darkhrse4011

Gold will certainly hit 1500 , if you really believe this economy is in any kind of recovery you probably would have drank the Kool-Aid at Jonestown ,Look at the unemployment numbers , Even with the books cooked they are horrific.... Every story you read is some kind of Wall street Fluff piece designed to build up small investor confidence so they can steal what litte you have left , If you have anything left after they raped you the first time..............Gold has been the universal standard of wealth since the dawn of civilization...period end of story! Its not going anywhere but up!

September 14 2010 at 7:51 PM Report abuse +3 rate up rate down Reply
otterdad48

This seems like a sensible time to sell to me.

September 14 2010 at 7:25 PM Report abuse rate up rate down Reply
Hi Bob

It could hit $400 also

September 14 2010 at 7:06 PM Report abuse +3 rate up rate down Reply