Gold Price … $3,000 Per Ounce
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Respected analyst, David Rosenberg of Gluskin-Sheff has forecast that gold will rise to $3,000 per ounce. Unlike Nouriel Roubini who has recently warned that the risk of deflation is abating and the growing risk was of inflation, Rosenberg remains a deflationist, but still thinks gold will continue to perform very well.
He argues that the breakdown of the euro is very bullish for gold. With the ECB being no Bundesbank and the Euro no D-Mark, gold is set to soar in euros and dollars.
Rosenberg warns that the Euro is less of a “hard currency” than its architects could have ever envisaged a decade ago. Now there is talk that the ECB is contemplating a quantitative easing plan. The case for gold heading to $3,000 an ounce is getting stronger by the day. The euro has already broken below 1.30 to the U.S. dollar and there is plenty of room for additional decline going forward. It’s only at a one-year low – wait until it moves to a decade low.
I am glad I investet some money in gold a few years back, but right now I am thinking of buying silver rather than gold. I think the gold price won’t be rising as fast in the future, although it is still the better option than buy some loussy shares.
I am glad I invested some money in gold a few years back, but right now I am thinking of buying silver rather than gold. I think the gold price won’t be rising as fast in the future, although it is still the better option than buy some lousy shares.
When the world is collapsing around you, people tend to run where they can. Gold has had some value for thousands of years, Fiat or paper money has been around for hundreds. But it has only been in the last 50 that all paper currencies are no longer tied to either gold or silver.
Neither of them can be created willingly as is the Case of the Dollar currently. When the chickens come home to roost, they will find a burning hen house. The world is awash in dollars, more so every day. All it will take is a few small emerging market nations to sell their dollar reserves to bolster the purchasing power of their own currencies i.e. prevent inflation.
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The question is, how much of gold is a hedge against inflation, and how much of gold is just another commodity, subject to the same fate as all other commodities over the last few months? What is the percentage, and how do we calculate it? I’m sick of hearing about how the price of paper money is manipulated.
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