Next Stop for Gold $2,000 per Ounce

Source:

"Surprisingly, central bankers are in favor of higher gold prices because it suggests their attempts to head off deflation are starting to work."

It's estimated that all the gold that was ever mined on Earth would fit into just two Olympic-sized swimming pools. The world's biggest deposits are being depleted quickly, and new discoveries are uncommon. The bottom line: the demand for gold exceeds supply. Gold can easily explode higher to new highs...

Gold is near the $1,000 level and I expect it to break above its record intraday high of $1,030.80 that it hit on March 17, 2008. Once it goes above this psychological barrier of $1,031, it will head much, much higher.

Now please keep in mind that investing in gold does have risk and gold tends to be quite volatile. We may see a speed bump here and there in the coming months. But, I do think you should invest in gold as an insurance policy, just in case the global economy gets worse.

How high can gold ultimately go? Mark my words. . .gold will hit $2,000 per ounce or even higher.

Gold is certainly in full bull market mode right now. Recently it headed higher on worries of both inflation and deflation. Surprisingly, central bankers are in favor of higher gold prices because it suggests their attempts to head off deflation are starting to work.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe