There is no force on the planet that can stop the price of gold now. I realize that may sound somewhat simple; yet, when you understand the position of every major central bank, the consequences and what has already begun, you see where this is going – much higher for the price of gold and silver. This very well should be the biggest bull market anyone’s ever seen – mainly because it’s a global phenomenon. But also because it involves both fear and greed. Why is that? – we’ve seen the fight of paper (fiat) versus sound money take place for years. Sound money has taken charge and will be the only thing to give the banks liquidity. You can’t pay back interest via borrowing. Gold is the answer…game was over before it began. Lastly (just for perspective)
100 years ago, all currencies were backed by gold and today 0. This has been turning since 2001 and now the wind is at gold’s back.
Gold price ’set to double in four years’
Gold prices, which hit record highs last week, could nearly double again in the next four years, according to a report to be published tomorrow.
By Garry White
Published: 11:06PM BST 10 Oct 2009
Analysts at Edison Investment Research have predicted that the price of gold price could hit $1,879 (£1,185) an ounce by 2013, driven by the aggressive monetary policy of central banks around the world and a chronic shortage of the precious metal.
Charles Gibson, a gold expert at Edison, argues in the report that the peak in the gold price has been delayed because the world was still facing deflationary forces. Previously Mr Gibson had expected gold to reach $1,567 an ounce “in the near term”.
The report says: “We reiterate our belief that gold is in the second phase of its bull run and that it has the potential to spike higher.” It adds: “We believe that it will take longer than anticipated for quantitative easing and loose monetary policy to express themselves in inflation statistics.”
The gold price hit an all-time high on three consecutive days last week, but the rally lost steam on Friday as the dollar strengthened and as traders locked in gains.
The price of gold for immediate delivery closed up 90c at $1048.10 an ounce on
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