Next Stop for Gold $2,000 per Ounce
Source: Investor's Daily Edge (2/26/09)
"Surprisingly, central bankers are in favor of higher gold prices because it suggests their attempts to head off deflation are starting to work."
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.