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According to Bloomberg, Gold continues to outperform stocks, bonds

and other commodities so far this year as investors rush to the gold metal

with continued concerns over the European debt crisis.  In a recent

interview with CNBC,  Egon Von Gruyerz, a Swiss gold dealer, reaffirmed

his belief that the European debt crisis would enhance gold’s appeal as

a safe haven asset. Von Gruyerz went on to state that should gold breach an important barrier of $1,220

an ounce, he believed that gold could rise by $100 very quickly. Gruyerz went on to note that moves of

$100 in one day could easily happen, giving gold the ability to top between $5,000 and $10,000 in the

next few years.  Financial analyst Larry Edelson echoed gold’s appeal as a safe haven asset in an article

posted in Uncommon Wisdom: “When the world’s two major fiat currencies are in deep trouble, there’s

only one wise choice: Gold”. Edelson goes on to note that if only 1% of the U.S. dollars and euros in

circulation were to go into gold, it could send gold to prices well beyond his conservative target

of $2,300 to his extreme target of $5,000 an ounce.* *(Bloomberg, “Gold Jumps Most in Four Weeks

on Demand for Euro Alternative”, 6/7/10,CNBC.com, “Gold’s ‘Real Move’ to $7,000 Coming: Asset

Manager”, 6/7/10; UncommonWisdomdaily.com, “More On the Fiat Money Crisis”, 6/7/10).

Original article posted on Goldline:  www.Goldline.com

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