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Expect Gold To Shine In 2008
By Patrick A. Heller
December 26, 2007

Precious Metals Market Update with Patrick A. Heller

In 2007, the U.S. dollar suffered, falling more than 25 percent against gold.

The rise in gold occurred despite massive government and central bank intervention. On Dec. 18, for instance, the European Central Bank made 14-day loans of more than $500 billion to commercial banks around the world, trying to stabilize markets past Dec. 31, a major financial valuation and reporting date.

What can we expect in 2008? I foresee higher gold and a declining dollar. Here are three factors that should have a major impact:

" Liberalization of Chinese government regulations for private citizens to own gold. Demand will come from profits diverted from the soaring Chinese stock market, possibly exceeding annual worldwide gold production! Even if the increase is much lower, gold prices could soar.

" The dollar will retreat from its 60+ year status as the world's reserve currency. Governments will reduce their dollar reserves, switching to baskets of currencies or additional gold. Fewer international transactions will be priced in dollars.

" The banking industry's liquidity problems, not cured by nearly a trillion dollars of direct and indirect central bank monetary inflation in 2007, will wreak worldwide dislocations in 2008. As investors realize that paper assets are riskier, demand for tangible assets like gold will rise.


Precious Metals Market Update - Expect Gold To Shine In 2008

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