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Tuesday, December 27, 2011
Phil Streible: Europe's Troubles to Boost Gold in 2012
Phil Streible, senior commodities broker at R.J. O'Brien, says gold trading will be thin this week before climbing to $2000 in 2012.
The price of gold will likely continue to rise, and the prices of all raw materials because of the crisis in Europe and the Arab world. But gold is not profitable in the long run. I think it's a good investment for 2012 and it will then move on to something else.
The price of gold will likely continue to rise, and the prices of all raw materials because of the crisis in Europe and the Arab world. But gold is not profitable in the long run. I think it's a good investment for 2012 and it will then move on to something else.
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