Gold Makes History Surpassing $1900 Per Ounce, Could Rise Further Says GoldPrice.Net

NEW YORK, Aug. 23, 2011 /PRNewswire/ -- Our economy could be heading into a double-dip recession and gold has responded by surpassing the $1900 per ounce mark for the first time in history. Certified Gold Exchange, J.P. Morgan and GoldPrice.Net have all raised their 12-month forecast to $2500, while Barclay's Capital and other less optimistic firms have gold averaging in the $2000 to $2200 range throughout 2012.

Demand for privately-held assets like gold has risen dramatically over the last five years and many market experts attribute this increased demand to consumers' apprehension about the US and world economies. "There is no doubt that Americans are scared," says John Halloran, President of GoldPrice.Net. He added, "The important thing to remember is to not freeze up due to fear, because the worst thing you can do in this situation is nothing. That's why a lot of savvy investors are running to gold and we expect this to continue."

Gold has increased in value more than 700 percent in the last decade and during this time period it has not only outperformed nearly every mainstream investing market but has also been labeled "the investment of the generation" by many. Many investors seem to have lost all faith in the talking heads and politicians who continue with talk of a recovery and instead of buying into such talk by investing in stocks and other dollar-backed assets they are shifting even more money away from these traditional asset classes in search of a safe haven.

How high could the gold price go? John Halloran says, "While no one knows for sure, the sky is the limit. It has increased in value more than 7,500% in the past 100 years and it's not stopping now."

GoldPrice.net provides both institutional and household investors with real-time quotes and instant liquidity when buying or selling gold, silver and platinum products. For more information or free investors' kit visit www.goldprice.net or call 1-800-776-7253.

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SOURCE GoldPrice.Net