Gold forecasts --- from $2,500 to $10,000

Posted By Dick Sterling
May 2, 2013

It should come as no surprise to my readers that I'm exceptionally bullish on gold right now, given the pullback of recent weeks. Just very briefly, here is a quick survey of three other gold bulls:

John Ing of Maison Placements Canada, says gold will rise to $2,500 per ounce within 18 months.

Nick Barisheff of Bullion Management Group, is projecting $10,000 gold within about five years.

Albert Edwards of French investment and London bullion bank, Societe Generale, is also forecasting $10,000 per ounce.

I won't be so bold right now as to make a specific forecast within a timeframe. But big picture, my outlook on gold is strong, and that probably won't change until we see two things happen: First, serious inflation. Second, major corrective action at the Fed.

What about the possibility of a total meltdown of the US dollar and a subsequent rush to gold? If you have a substantial portion of your portfolio in gold, then you're positioned for this contingency, although the near-term likelihood of it happening is slim. Slow and steady currency debasement is more likely. Stealth theft.

Until we see inflation up at 1970's levels and the Fed taking strong corrective action, I see no reason to back down on my gold stance.

Posted by: Dick Sterling, Editor   contact here