SPDR Gold Trust: ETF GLD Prices To Hit $1,847 This Year

Experts from GFMS say that GLD Prices will follow an upward trend owing to the US government’s money printing program; quantitative easing, which will propel the prices unstoppably. Compared to last year, this year’s gains have been projected to increase by 35 tons or 1.25%.

Further reports claim that the backtracks experienced in the price of gold in 2012 was an aberration. It was largely contributed to by the loose monetary policy of the US and central bank which aggravated by their continued interest in purchasing GLD.

There are high chances, according to these reports, that this year will be a huge turnaround in gold prices with an average of 6% rise anticipated. Earlier on this month, Gold Investing News revealed that gold bulls could be mightily disappointed given the predictions by particular banks. It is predicted that overall, the average price of gold would be $1,700. 

On the other hand, HSBC predicts a low of $1,666. Such bearish predictions strongly contrast with bullish firms such as Stanley Morgan which predicts an average of $1,853 while Commerzbank predicts $1,950.

Traders stepped in to make bargains yesterday as the Price of GLD hit the highest bar this year; $1,687.40 an ounce. This is an increase of $7.40 compared to Wednesday’s close.

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 Live 24 hours gold chart [Kitco Inc.]