Latest News Industry Events Gold: $300 or $3000? Investment gurus meet near Atlanta to discuss metal’s future

Gold: $300 or $3000? Investment gurus meet near Atlanta to discuss metal’s future

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On April 23-25, 2009 over 20 different newsletter writers, stock analysts and mining related company representatives met at Chota Falls in Clayton, Georgia to discuss the future of the resource market and related alternatives to an audience numbering nearly 200.

With the topsy-turvy performance of all investment markets this past year, all ears and eyes were wide open for any information that could make future investing more secure.

While gold has held up quite well, it has not been immune to wide price swings. From a high of around $1000 in mid 2008, it fell temporarily to the high $600s in the fall of 2008 because of vast deleveraging in the general markets. For 2009 it has traded in the low to mid $900s mostly, but what seems to be on everyone's mind these days is what the future holds.

Here's some ideas discussed at the forum:

Gold is an international commodity which is very sensitive to changes in the currency markets. Almost all writers and analysts agreed that if the US dollar kept weakening against other foreign currencies, the net result would be moderately to dramatically higher gold and silver prices. Discussions of IMF selling gold reserves to China were frequent because China's gold reserves are very low compared to many western countries including the USA. Several even suggested that a possible COMEX default might occur.

Some speakers, including Adrian Day, Anthem Blanchard, Bob Bishop and Rick Rule, felt that gold would continue to trade in a range of $800/$1000 with possible higher spikes later this year and in 2010. All pointed to lots of variables including energy prices as well as how the rest of the world perceives the Obama administration's ability to "right" our economic ship. Most felt that precious metals prices would remain high in this climate of uncertainty.

Sponsored by the Friends for Autism Foundation, this conference was originally the brainchild of the late Jim Blanchard [Anthem Blanchard's father] as well as Martin Truax. Held for many years in Atlanta, it is now held every other year at the Chota Falls Estate in Clayton, GA. All profits from the event go to benefit the foundation which seeks to improve the lives of children and adults afflicted with autism. For further information on future conferences or the Autism Foundation, please contact Martin Truax at Morgan -Keegan in Atlanta at 770-673-2177.

 
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