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February 16, 2010 – Gold investment has experienced a spike as Citigroup Inc announced that its analysts expect gold to rebound and climb above $1,160 per ounce in the near future. Citing technical analysis in a report that they released on February 15th, Citigroup explained that after breaking a resistance point at the $1,100 mark, it is likely that prices for the metal will continue higher.

PowerPennyStocks.com also agrees with this opinion, stating on their website that, “this signals that the rubber has hit the road, and will push gold to climb.” In addition, Citigroup has stated that future demand for gold is likely to surge in the countries of India and China, suggesting that gold investment there will also have a direct bearing on prices.

The fact that analysts see this move going towards gold instead of the US dollar is telling as well. Many market experts see the dollar losing momentum, with Steve Pearson, head of G-10 currency trading at Bank of America Merrill Lynch, London recently saying, “The consensus was not anticipating a strong dollar through the first half of 2010."

With experts and analysts lining up behind gold, investors should look to take new positions in the coming days. Gold has been strong the past two weeks, outperforming the euro and the dollar, and leaving many to believe that now is the time for a new rally. People who make new gold investments now stand to profit the most should prices continue to climb as predicted by Citigroup Inc and others. 

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Stewart Lawson

Senior Staff Writer - Gold-Investment.info