Author Topic: Citigroup: Gold could rise to $2000 in 2009!  (Read 619 times)

Bindare_Dundat

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Citigroup: Gold could rise to $2000 in 2009!
« on: November 28, 2008, 08:10:25 AM »
"Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup ... the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before. This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold ... "The world is not going back to normal after the magnitude of what they have done. ... Gold traders are playing close attention to reports from Beijing that China is thinking of boosting its gold reserves from 600 tonnes to nearer 4,000 tonnes to diversify away from paper currencies ... Citigroup said the blast-off was likely to occur within two years, and possibly as soon as 2009. ... Gold has tripled in value over the last seven years, vastly outperforming Wall Street and European bourses."


http://www.telegraph.co.uk/finance/c...-unravels.html