Gold Bugs Ready to Rock

Gold prices look set to rocket in 2007 with a sickly greenback and geopolitical tensions topping the list of driving factors, according to a broad cross-section of bullion market watchers polled by TheStreet.com.

The whole group, which includes miners, a portfolio manager and a coin dealer, sees the possibility of spot prices breaking through the 2006 high of around $725 an ounce, reached in May. Gold for immediate delivery sold for around $630 in late December, having risen from $520 in January.

What will be interesting to see is how well the group fares when compared with those surveyed for the annual London Bullion Market Association forecast, expected in mid-January. ...