Gold Investments Market Update - Money Printing and Debasement on an Unprecedented Scale While Gold Mining Supply is Falling Significantly

By Mark O`Byrne
06 February 2009 @ 07:55 am EDT

Gold remains firm as there is increasing nervousness about the global economy and indeed nervousness about the global monetary system and this is leading to continuing strong investment demand. Gold remains at or near record highs in nearly all major currencies ($914.00 £622.11 €713.06) and looks set to regain its nominal record high of $1,030/oz in the coming weeks. UBS joined Goldman Sachs and Merrill Lynch in drastically increasing their gold price forecasts yesterday. UBS has increased its 2009 average gold price forecast to $1,000 an ounce from $700 as investors seek a safe haven from the financial turmoil.

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