US economic fear may push gold to a 22-year high

[emad]

April 29, 2005
Times
By Peter Klinger



THE price of gold could hit a 22-year high of $500 per ounce within the next year on the back of concern over a substantial slowdown in the US economy, a leading precious metals consultancy said yesterday.

GFMS said that global economic conditions over the coming 12 months were likely to conspire to force an “event-driven spike” in the gold price, propelling it to the highest levels since 1983.

Gold hit $452 per ounce — a 16-year high — late last year as investors bought to protect themselves against the plummeting US dollar.

The price has since eased and yesterday ended London trading at $431.90, off 20 cents.

http://www.timesonline.co.uk/newspaper/0,,174-1589971,00.html

[leesa]

1. Oh Dang! I guess GH Bush will just HAVE to make a ton of money

from his gold mine.

[ret5hd]

2. and pat robertson from his (complete w/ slave labor)