www.munKNEE.com; By: Lorimer Wilson – September 19, 2010
Believe it or not but I have identified 83 economists, academics, gold analysts and market commentators who have developed sound rationale as to why gold could quite possibly go to a parabolic top of at least $2,500 an ounce to even as much as an unimaginable $15,000 before the bubble finally pops!
When I first began writing about such projections, I was satisfied with identifying 10 individuals who were of the opinion that gold would attain a peak greater than $2,500. That list has grown to 83 of which 47 believe that $5,000 or more for gold is likely. I encourage you to check out their articles and their rationale for such high gold prices in the years (and in some cases just months) to come:
Higher than $10,000
1. Mike Maloney: $15,000;
www.goldbasics.blogspot.com/2009/09/gold-should-reach-15000-oz-mike-maloney.html
2. Ben Davies: $10,000 – $15,000;
www.thedailygold.com/commentaries/hinde-capitals-ben-davies-on-the-gold-market/?p=3905/
3. Howard Katz:14,000;
www.24hgold.com/english/contributor.aspxcontributor=Howard+S.+Katz&article=2241359014G10020&redirect=False
4. Dr. Jeffrey Lewis: $7,000-$14,000;
www.silver-coin-investor.com/gold-and-silver.html
5. Jim Rickards: $4,000 – $11,000;
www.cnbc.com/id/34038650/Gold_s_Money_Value_is_4_000_to_11_000_Market_Strategist
6. Roland Watson: $10,800 (in our lifetime);
www.goldeagle.com/editorials_05/watson081605.html
$5,001 – $10,000
1. Bob Kirtley: $10,000 (by 2011);
www.goldeditor.com/wp-content/uploads/editorpdfsimages/Gold-Prices-at-10-000.pdf
2. Arnold Bock: $10,000 (by 2012);
www.munknee.com/2010/06/gold-going-to-parabolic-top-of-10000-by-2012-%e2%80%93-for-good-reasons/
3. Porter Stansberry: $10,000 (by 2012);
www.kitco.com/ind/stansberry/dec022009.html
4. Tom Fischer: $10,000;
www.gold.approximity.com/gold_price_models_sinclair.html
5. Shayne McGuire: $10,000;
www.safehaven.com/article/9572/shayne-mcguire-the-early-innings-of-a-gold-boom
6. Eric Hommelberg: $10,000;
www.gold-speculator.com/eric-hommelberg/17257-golds-inflation-adjusted-high-reaches-8000-a.html
7. Jim Willie: $7,000;
www.silver-investor.com/blog/silver-investor-bloggers-gold/hidden-dollar-swap-hammer-by-jim-willie-cb/
8. Gerald Celente: $6,000 – $10,000;
www.trendsresearch.com/forecast.html
9. Egon von Greyerz: $6,000 – $10,000;
www.goldswitzerland.com/index.php/gold-entering-a-virtuous-circle-egonvongreyerz/ utm_source=subscriber&utm_medium=rss&utm_campaign=rss
10. Samuel “Bud” Kress: $6,000 (by 2014);
www.clifdroke.com/articles/jul10/071910/071910.html
11. Peter Schiff: $5,000 – $10,000 (in 5 to 10 years);
www.businessweek.com/magazine/content/10_23/b4181044623002.htm
www.commodityonline.com/news/Gold-forecast-Jim-Rogers-Peter-Schiff-or-Roubini-23940-3-1.html
12. Patrick Kerr: $5,000 – $10,000 (by 2011);
www.marketwatch.com/story//a-reality-check-for-investors-mulling-sale-of-gold-2009-11-20
13. Peter Millar: $5,000 – $10,000;
www.gata.org/files/PeterMillarGoldNoteMay06.pdf
14. Roger Wiegand: $5,000 – $10,000;
www.traderrog.wordpress.com/2010/08/23/how-high-can-gold-go/
15. Alf Field: $4,250 – $10,000;
www.24hgold.com/english/news-gold-silver-gold-price-objective.aspx?contributor=Alf+Field&article=1440499960G10020&redirect=False
www.gold-speculator.com/alf-field/7413-elliot-wave-gold-update-23-a.html
www.jsmineset.com/2009/05/10/alf-field%E2%80%99s-gold-price-predictions/
16. Peter George: $3,500 (by 2011-13); $10,000 (by Dec. 2015);
www.news.goldseek.com/GoldSeek/1129126809.php
17. Jeff Nielson: $3,000 – $10,000;
www.bullionbullscanada.com/index.php?option=com_content&view=article&id=12906:the-real-truth-about-the-imfs-gold-sale&catid=48:gold-commentary&Itemid=131
18. Dennis van Ek: $9,000 (by 2015);
www.goldnews.bullionvault.com/Goldbug/gold_price/gold_prices_could_hit_9000_per_oz_by_2015_18898034
19. James Turk: $8,000 (by 2015);
www.munknee.com/2010/06/where-gold-and-silver-will-be-by-2015/
20. Joseph Russo: $7,000 – $8,000;
www.financialsense.com/fsu/editorials/russo/2007/0416.html
21. David Petch; $6,000 – $8,000;
www.gold-eagle.com/editorials_05/petch040105.html
22. Michael Rozeff: $2,865 – $7,151;
www.marketoracle.co.uk/Article14168.html
www.lewrockwell.com/rozeff/rozeff16.html
23. Martin Murenbeeld: $3,100 – $7,000;
www.dundeeprecious.com/Theme/Dundee/files/The%20Gold%20Price%20Outlook%20through%202010-%20website.pdf
24. Dylan Grice: $6,300;
www.abnnewswire.net/press/en/63123/Barry_Dawes_Projects_Gold_To_Reach_5000oz_At_The_Resources_Investment_Expo_In_Brisbane.html
25. Chuck DiFalco: $6,214 (by 2018);
www.financialsensearchive.com/fsu/editorials/difalco/2009/1124.html
26. Aubie Baltin: $6,200 (by 2017);
www.24hgold.com/english/contributor.aspx?rss=true&article=2158395926G10020&redirect=false&contributor=Aubie+Baltin
27. Murray Sabrin: $6,153;
www.kitco.com/ind/Sabrin/may262009.html
28. Harry Schultz: $6,000;
www.moneynews.com/StreetTalk/harry-shultz-deflation-hyperinflation/2010/06/11/id/361725?s=al&promo_code=A0D6-1
29. Lawrence Hunt: $5,000 – $6,000 (by 2019);
www.laurencehunt.blogspot.com/2010/06/gold-invisible-bull-market.html
30. Paul Brodsky/Lee Quaintance: $3,000 – $6,000;
www.gold-eagle.com/editorials_08/brodsky121208pv.html
www.gata.org/files/QBAssetManagement-07-2009.pdf
31. Jeremy Charlesworth: $5,000+;
www.telegraph.co.uk/finance/personalfinance/investing/gold/7803924/Silver-will-outperform-gold.html
$5,000
1. David Rosenberg: $5,000;
www.zerohedge.com/article/rosenberg-pattern-would-suggest-test-5000-dow-same-time-gold-5000-too
www.investmentpostcards.com/2010/05/16/3000-gold-price-may-yet-prove-conservative-says-rosie/
2. Martin Hutchinson: $5,000 (by end of 2010);
www.prudentbear.com/index.php/thebearslairview?art_id=10309
www.nytimes.com/2010/05/14/business/economy/14views.html
3. Doug Casey: $5,000;
www.pragcap.com/is-gold-going-to-5000
4. Peter Cooper: $5,000;
www.arabianmoney.net/gold-silver/2010/05/12/5000-an-ounce-in-sight-as-gold-its-new-all-time-high/
5. Robert McEwen: $5,000;
www.bloomberg.com/apps/news?pid=20601082&sid=ajm6lryLYViQ
6. Martin Armstrong: $5,000 (by 2016);
www.businessinsider.com/martin-armstrong-gold-headed-to-5000-and-beyond-2009-11
7. Peter Krauth: $5,000;
www.moneymorning.com/2010/01/14/gold-superspike
8. Tim Iacono: $5,000 (by 2017);
www.seekingalpha.com/article/174088-faber-gold-a-better-buy-than-at-300-oz?source=hp
9. Christopher Wyke: $5,000;
www.bloomberg.com/apps/news?pid=newsarchive&sid=aF1439PVhAgk
10. Frank Barbera: $5,000;
www.theaureport.com/pub/na/1575
11. John Lee: $5,000;
www.goldnews.bullionvault.com/gold_dollar_fiat_currency_fed_confidence_030320082
12. Barry Dawes: $5,000;
www.abnnewswire.net/press/en/63123/Barry_Dawes_Projects_Gold_To_Reach_5000oz_At_The_Resources_Investment_Expo_In_Brisbane.html
$2,500 – $5,000
1. Pierre Lassonde: $4,000 – $5,000;
www.commodityonline.com/news/Panic-effect-could-push-Gold-to-$4000-or-$5000-11770-3-1.html
2. Willem Middelkoop: $4,000 – $5,000;
www.youtube.com/watch?v=lvFSyS985I8
3. Mary Anne and Pamela Aden: $3,000 – $5,000 (by February 2012);
www.adenforecast.com/articlesInterviewDetail.php?id_publicacion=19
4. James Dines: $3,000 – $5,000 (in June 2011);
www.commodityonline.com/news/James-Dines-Dig-gold-out-of-rare-earths-24391-3-1.html
5. Larry Edelson: $2,300 – $5,000 (by 2015);
www.munknee.com/2010/08/gold-will-go-to-5000-and-the-dow-to-above-27000-by-2015/
6. Luke Burgess: $2,000 – $5,000;
www.wealthdaily.com/articles/gold-etfs/2409
7. Mike Knowles: $4,000;
www.stockmarketweekly.com/newsletters/1546-what-is-the-kondratieff-cycle-telling-us-now%20/
8. Ian Gordon/Christopher Funston: $4,000;
www.munknee.com/2010/06/the-long-wave-cycle-of-winter-is-coming/
9. D.P. Baker: $3,000 – $3,750 (by Jan./Feb. 2012);
www.stockhouse.com/Columnists/2010/Jun/8/Gold-s-next-move-could-be-parabolic
www.news.goldseek.com/GoldSeek/1272548046.php
10. Christopher Wood: $3,360;
www.marketoracle.co.uk/Article12906.html
11. Adam Hamilton: $3,500 (by 2010/11);
www.commodityonline.com/futures-trading/technical/Gold-price-to-hit-$3500-by-201011-13620.html
12. Eric Roseman: $2,500 – $3,500 (by 2015);
www.worldcurrencywatch.com/2010/04/08/the-still-unpaid-price-of-the-global-bailout/
13. John Henderson: $3,000+ (by 2015-17);
www.seekingalpha.com/article/160592-gold-1200-by-year-end-1500-in-2010-3000-by-2015-2017
14. Hans Goetti: $3,000;
www.cnbc.com/id/15840232/?video=1043867279&play=1
15. Michael Yorba: $3,000;
www.yorbatv.ning.com/forum/topic/show?id=2014856%3ATopic%3A9698
16. David Tice: $3,000 (by 2012);
www.cnbc.com/id/34240489
17. David Urban; $3,000;
www.seekingalpha.com/article/36315-why-i-believe-gold-will-hit-3000-oz
18. Mitchell Langbert: $3,000;
www.mitchell-langbert.blogspot.com/2010/06/is-ride-to-3000-gold-going-to-hit-air.html
19. Brett Arends: $3,000;
www.online.wsj.com/article/SB10001424052748704792104575264863069565780.html
20. Ambrose Evans-Pritchard: $3,000;
www.moneynews.com/StreetTalk/evans-pritchard-gold-price/2010/05/26/id/360175
21. Trader Mark: $3,000 (by mid-2011);
www.ibtimes.com/articles/25200/20100526/if-gold-gld-tracks-nasdaq-housing-peaks-its-headed-to-3000-in-18-months.htm
22. John Williams: $3,000;
www.telegraph.co.uk/finance/personalfinance/investing/gold/4967209/Gold-Inflation-will-beat-deflation-and-gold-will-hit-3000.html
23. Louise Yamada: $3,000 (by 2016-17);
www.bloomberg.com/apps/news?pid=newsarchive&sid=a5UuCc0L6nt4&refer=latin_america
24. Byron King: $3,000;
www.whiskeyandgunpowder.com/gold-is-going-to-3000-get-some-physical-gold/
25. ThumbCharts.com: $3,000;
www.thumbcharts.com/1300/gold-at-3000-only-if-bubbles-repeat
26. Bob Chapman: $3,000 (by 2011);
www.bobchapman.blogspot.com/2010/05/gold-will-go-to-75-and-gold-to-3000.html
27. Ian McAvity: $2,500 – $3,000 (by 2012);
www.mineweb.co.za/mineweb/view/mineweb/en/page33?oid=106419&sn=Detail&pid=102055
28. Chris Weber: $3,000 (by 2020);
www.kitco.com/ind/Weber/dec052006.html
29. Jeff Nichols: $2,000 – $3,000;
www.mineweb.com/mineweb/view/mineweb/en/page34?oid=99961&sn=Detail&pid=1
30. Graham French: $2,000 – $3,000;
www.telegraph.co.uk/finance/personalfinance/investing/gold/7743787/Gold-bulls-claim-price-could-double-to-3000-in-five-years.html
31. Joe Foster: $2,000 – $3,000 (by 2019);
www.thegoldbubble.blogspot.com/2010/07/joe-foster-gold-above-3000-in-couple-of.html
32. Sascha Opel: $2,500+;
www.mineweb.com/mineweb/view/mineweb/en/page33?oid=79363&sn=Detail
33. Rick Rule: $2,500 (by 2013);
www.mineweb.com/mineweb/view/mineweb/en/page33?oid=107168&sn=Detail&pid=102
34. Daniel Brebner: $2,500;
www.midasletter.com/news/09031105_UBS-bullish-on-gold-price-nearing-2500-dollars.php
Conclusion
There you have it. Who would have believed that so many distinguished analysts would maintain that gold and by implication, silver, are likely to achieve such lofty levels as a result of the effects of our current financially troubled and volatile times? Their rationale is varied but each is sound in its own right.
If we are to put any credence whatsoever into the rationale presented by the above analysts then it seems prudent for us to own some physical gold and silver in order to shield ourselves from future rampant inflation and currency devaluations and to ensure an outstanding return on our investment.
All Things Considered – John’s Commentary:
Pretty amazing when you look at the list above! Contained in the list are most of the “Who’s Who” for the past twenty plus years in precious metals and mining. One or two analysts is one thing… eighty-three is another.
Action to take: If you’re not on board, get on board. If you’re on board, congratulations! You may consider adding to your position. It’s not too late!!! Gold is an absolute double from current pricing, and silver is a quadruple with out a doublt.
What to buy: I have an assortment of 1 oz bullion coins including gold Eagles, gold Philharmonics, gold Maples and generic 1-oz silver rounds. Pre-1965 90% silver coin and 100 oz silver bars are a great buy at 3.9% and 4.4% respectively – additional quantity discount available. Call for details.
Quote of the day: “It is absolutely inevitable that the US will have to default on part of its existing liabilities, since the long-run trajectory of government borrowing is clearly unsustainable” – Niall Ferguson, author, The Ascent of Money
