Gold Price May Double By 2010 and Reach $2,000
(Watch Philip Manduca and Dean Barber interviewed on CNBC above).
Philip Manduca, head of investment from ECU Group, here talks about the overall problems in today’s equity market in US and how exposed is their group to these equities. As they have about 20 to 25 % exposure to US equity and 10 % exposure to foreign equity, the unexpected plummeting occurred in the shares have toppled all their futuristic plans and so they are in a very defensive position at the moment.
They are using some interest strategies and other financial plans to lessen the impact of the crisis. “Because of some income to the market due to the monetary and financial input, we may expect better prospect in the coming months. People also wanted a speedy recovery and they think the economic crisis and its bad effects are surely going to improve some day, tomorrow or the other day,” added Manduca.
When asked by "Worldwide Exchange” who has conducted the interview, about the prospects of gold, Manduca said that gold is definitely going to have higher values, it will go for about $1000 in 2009 and may even reach $2000 in the year 2010. Gold is thus poised to be the central cushioning factor for investors to try their hand in.
Manduca observed that in the near future when the state economy gets improved, there will be multiple problematic situations like currency debasement in one hand and inflation on the other. These things are really important issues to be analyzed further.
In the interview also available was Dean Barber, who is the founder & chief investment officer at Barber Financial Group. He totally concurred with the analysis and predictions put forward by Manduca, the investor. Dean added that there is going to be very positive changes in the next year and the totality of the commodity space will pick up momentum and growth.