‘Gold Cartel’ Losing, Price to Top $3,000: Association

Aug. 04, 2011 07:40AM PST

CNBC News reported that some analysts see gold prices nearly doubling while reserves shrink. The market news is quoted as saying: “You could see $3,000 to 5,000 to clear the market as the central banks and bullion banks run out of gold to meet the growing demand,” Bill Murphy, chairman of the Gold Anti-Trust Action […]

CNBC News reported that some analysts see gold prices nearly doubling while reserves shrink.

The market news is quoted as saying:

“You could see $3,000 to 5,000 to clear the market as the central banks and bullion banks run out of gold to meet the growing demand,” Bill Murphy, chairman of the Gold Anti-Trust Action Committee (GATA), which is hosting a conference in London this week, told CNBC Thursday.

To read the full market news, click here.

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