Do I hear $10,000 an ounce??
There seems to be a “can you top that?” competition going on at the moment regarding gold prices.
As gold has inexorably risen to about $1,200 an ounce today — up 15% just in the last month, and four-fold since 2000 — analysts have scrambled to raise their projected price targets.
Predicting $2,000 an ounce now barely raises eyebrows; to get anyone’s attention, you have to double or triple that.
Going for the Gold
So, just to get ahead of the pack . . . you heard it here first: I predict that gold is going to $10,000 an ounce.
When, I have no idea.
P.S.: Actually, it’s not true that no one has yet predicted $10,000 an ounce gold: run a Google search, and you’ll get dozens of hits. The catch? Many of them go back years.
In fact, most of the “gold $10,000” Google hits relate to fundraising. It turns out that $10,000 is the “gold” level for literally hundreds of charities nationwide. You’ll have to fork over another $5k- $15k to rate “platinum.”