Gold could reach $5000 USD per ounce

[DimPrawn]

http://goldnews.bullionvault.com/gold_5000_111720091

"Sterling is still our least favored currency, even after significant falls in value," Stanion is quoted by FT Advisor.



Forecasting a spike to $2000 per ounce within six months, "The supply of gold from new mining is around 1 million ounces per year LESS than in 1980 and the supply of speculative capital that could flow into gold is many times greater," Hutchinson notes.

"Hence a $5000 Gold Price is possible (though not certain) if present monetary policy is continued or only modestly modified – and that price could be reached by the end of 2010."

If gold reaches $5000 per ounce it means the USA has gone bankrupt.

[Jeebo72]

It won't reach $2000 ... profit taking will take affect at $1500 to $1750.

[Platypus]

Love that bullionvault are publishing this "news". Yeah, right, it must be true.

[DimPrawn]

Love that bullionvault are publishing this "news". Yeah, right, it must be true.

Next week, the British Sausage Producing Association are warning people that a typical pork banger could cost £200 next year.

Difference is, they are probably right.

[BlasterBates]

good news indeed

[TimberWolf]

Is there any point in looking at the price of gold in Dollars any more? Wouldn't it make more sense (for us at least) to compare to Pounds? Has gold risen against the Ozzie Dollar?

[DimPrawn]

Is there any point in looking at the price of gold in Dollars any more? Wouldn't it make more sense (for us at least) to compare to Pounds? Has gold risen against the Ozzie Dollar?

http://www.bullionvault.com/gold-price-chart.do

Needs Java.

Choose your currency and date range.

[suityou01]

http://goldnews.bullionvault.com/gold_5000_111720091




If gold reaches $5000 per ounce it means the USA has gone bankrupt.

Was there ever any doubt that this was going to happen? Within the next two years I am told.

[TimberWolf]

http://www.bullionvault.com/gold-price-chart.do

Needs Java.

Choose your currency and date range.

Thanks. As it happens, I was just looking. Not so good against AUD in the last year (gold dropping in price considerably), but I must admit I am tempted (again), as I have £'s. The thinking being that average Americans may yet pile in and push it higher. Are you still buying?

[lilelvis2000]

That would make my wife extremely wealthy - she has a couple of troy ounces in the safe. Not to mention the 24k gold earring and bangles.