Gold Hits $2,700 Per Ounce As Analysts Predict Bullish Phase

Gold has entered a new bullish phase, according to Sprott Asset Management, as prices hit a record high of $2,700 per ounce. Factors driving this surge include central bank purchases, rising U.S. debt, and a potential peak in the U.S. dollar. Analysts predict that gold may reach $3,000 in the next six to nine months, citing growing government debt and geopolitical tensions. Gold prices have performed extremely well over the last three months, reflecting buyers' willingness to pay higher prices, according to Citi.