Gold industry expert, Peter Hug says that the precious metal will reach or perhaps even exceed its 2011 high of $1920 before the end of this year. He says that while the economic recovery will take time and won’t be completed for year to come, gold will go from strength to strength with the potential to set a 9-year record before the end of December.
He said, “Short-term, especially given the seasonal factors, [gold prices] have a bit of softness, but by year-end I think the 2011 high in gold, which is $1,920, will be there or higher.”
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