Of 12 analysts interviewed by the news service, the price of the precious metal in four years ranged from $1,000 per troy ounce to $2,500 per troy ounce. Inflation will boost the value while a bettering global economy will keep the rise from being overdone, they contend.
"The US effectively lost its triple-A rating in the eyes of investors that really matter quite some time ago, back when gold broke $1,000 an ounce," David Lennox, a commodities analyst at Fat Prophets, told the news service.
The precious metal's record value of $1,508.88 per troy ounce was set on Thursday morning. Gold futures have notched record prices on at least half of the trading days through now during the month of April.
Gold futures soared 30 percent in value last year and 24 percent in 2009. Thus far this year, gold futures have gained more than 6 percent.
At 7:51 a.m. on Thursday, gold futures rose 0.58 percent, an $8.70 gain to $1,507.60 per troy ounce.
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