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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: PaperPerson	3/2/2008 5:27:45 PM
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These guys are really brave, predicting 1000 gold and all :) Gold May Top $1,000 as U.S. Currency Falls, Inflation Picks Up By Pham-Duy Nguyen March 3 (Bloomberg) -- Gold may top $1,000 an ounce for the first time ever as a slumping dollar and higher raw-materials costs boost demand for the precious metal as an inflation hedge. Seventeen of 22 traders, investors and analysts surveyed from Melbourne to Chicago on Feb. 28 and Feb. 29 advised buying gold, which rose 2.9 percent to $975 an ounce last week in New York. Two said to sell, and three were neutral. On Feb. 29, gold climbed to $978.50, the highest ever, as crude oil surged to a record $103.05 a barrel and the dollar fell to the lowest ever against the euro. The metal rallied 31 percent last year as consumer prices rose at the fastest pace since 1990 and the dollar lost 9.5 percent against the euro. A majority of analysts surveyed Feb. 21 and Feb. 22 anticipated last week's gain. The survey has forecast prices accurately in 125 of 200 weeks, or 63 percent of the time. This week's survey results: Bullish: 17 Bearish: 2 Neutral: 3 To contact the reporter on this story: Pham-Duy Nguyen in Seattle at pnguyen@bloomberg.net . Last Updated: March 2, 2008 12:15 EST bloomberg.com

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