4
February
Gold to Reach $1500 as Haven Status Restored, Nichols Says
4 February 2010 Bloomberg.com
Gold will climb to $1,500 an ounce and silver will top $25 this year as the dollar loses its haven status, according to Jeffrey Nichols, managing director of American Precious Metals Advisors.
“Fear of sovereign debt defaults by one or another European country could benefit the dollar and temporarily hurt gold,” New York-based Nichols said in an e-mail to Bloomberg yesterday. “But gold is the ultimate safe haven and the dollar, without the support of sound monetary and fiscal policies, is a depreciating asset.”
http://www.bloomberg.com/apps/news?pid=20601116&sid=ay7aVAKL6qYw
