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2010 was the year gold glittered, along with companies associated with the precious metal. And one top analyst believes gold prices will continue to rise through 2011, as the economic and political concerns that have supported bullion show no signs of abating.
John Ing, President and CEO of Maison Placements Canada, is predicting $2,000 US an ounce on fears of a looming debt crisis in the
“Two years ago we had Wall Street’s problems…this year we had the sovereign debt problems…next year I have an average price of $2,000 and my expectation is that this is when the United States threatens to default on its debt,” Ing told BNN.
“There’s no question there are a lot of tensions out there and the biggest debtor in the world is the United States and they’ve been piling on debt, not only for QE2, to resolve their problems and these problems just get higher and higher.”