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Fifty economists agree gold's future is very bright
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$2,200 Gold Ahead Say Experts
Fifty economists agree gold's future is very bright
By David Bradshaw, Editor RMP
Feb 29, 2008
The commodity super-cycle has swept gold prices to triple since 2001 -- but that's just the kickoff say the experts.
How high will this bull market in "real money" and commodities drive gold prices over the next 5 to 15 years? Get ready to be shocked!
Gold prices grew about $100/oz. per year between 2003 and 2006. Gold was $300 in '03, $400 in '04, $500 in '05, $600 in '06 and $800 in '07. Savvy investors and gold experts see $1,000 plus gold in 2008!
Recently many analysts have jumped onto the $1,000/oz. plus gold bandwagon -- most of whom were not considered "gold bugs" in the past, like Citibank and JP Morgan & Co.
Here's a list of fifty prominent analysts, authors and gold experts already on the record forecasting four-digit gold prices to arrive in the years ahead. Their combined gold price expectation is $2,200/oz. gold!
Count for yourself the dozens of good reasons for owning gold today, which these experts suggest will drive gold prices sky high. I've listed two dozen reasons at the conclusion.
MICHAEL WIDMER, Analyst, Lehman Brothers
"All the newsflow coming out of the U.S. is hugely bullish for the gold market. In the end, what lower interest rates mean is that it will be difficult for the dollar to come back strongly. Inflationary pressures are something that are also playing into the market. Fundamentals are strong and I think $1,000 would not be an end. We are going to go higher from there." - The Guardian, 2-29-08
PAUL WALKER, Chief Executive GFMS
"The price of gold is likely to peak at just over $1,000 per ounce in 2008. Gold is dancing to its own tune and not just being influenced by a weaker dollar. Walker estimated that investor demand was 12 percent of total demand for gold in 2007." Reuters, 2-4-08
SEAN BRODRICK, Editor, Money and Markets
"Gold has enjoyed a great run over the past few years, but it hasn't been a straight path. But one strategy has worked time and time again: Buy the dips. It takes courage to buy when everyone else is selling. But if you do your research, you can act with confidence that even if gold dips lower than you're buying it, the upside potential is huge. My preliminary price objective for gold is $1,065 per ounce, and it could go a lot higher than that." -The Coming Gold Surge, Investors.com, 2-4-08
DAVID GAROFALO, CFO, Agnico-Eagle Mines
"We don't see any reason in this cycle why gold shouldn't reach its real all-time high, which is actually about $2,200 an ounce," he told reporters after a presentation in Toronto, adding the time frame of three to five years. -Reuters, 1/10/08
OTTO SPORK, Hedge fund manager, Sextant Capital Management Inc.
"The price of the yellow metal is en route to $1,500 an ounce within the next two years. We could easily see $35 or $40 per ounce for silver over the next couple of years. We feel that certainly the junior gold and other resource stocks are nowhere reflecting their true value." -Globe&Mail, 12-4-07
JAMES DINES, Editor, The Dines Letter
"We would be very surprised if the gold price did not blast right through the old highs, and we reaffirm our old targets for gold of $3,000 to $5,000 an ounce (Plus silver over $100 an ounce) ... gold is not merely a colorful trinket but a monetary asset, and when mass fear strikes at the heart of paper money, the stampede to gold will be awesome." -MW, 11-5-07
ROB LUTTS, President, Cabot Money Management
"Gold will hit $850-$870 by the end of 2007 and $2,000 gold is achieveable in this move, given the huge demand from ETFs and soon pensions and insurance companies will be buying gold as a new alternative asset class." -CNBC, 11-2-07
DAVID DAVIS, Analyst, Credit Suisse
"The gold price will soar to more than $1,000 per ounce over the next five years as dwindling supply of the precious metal combines with increased demand. Upward pressure on the price of gold is being driven by the economic environment surrounding the US economy and a change in the supply and demand dynamics surrounding gold." -London Telegraph, 11-1-07
JOHN HILL and GRAHAM WARK, Citibank analysts
"A'Reflationary Rescue', in a new cycle of global credit creation and competititive currency devaluations could take gold to $1,000 an ounce, or higher. Central banks have been forced to choose between global recession or sacrificing control of gold, and have chosen the perceived lesser of two evils." -London Telegraph, 10-1-07.
PAUL O
Fifty economists agree gold's future is very bright
--------------------------------------------------------------------------------
$2,200 Gold Ahead Say Experts
Fifty economists agree gold's future is very bright
By David Bradshaw, Editor RMP
Feb 29, 2008
The commodity super-cycle has swept gold prices to triple since 2001 -- but that's just the kickoff say the experts.
How high will this bull market in "real money" and commodities drive gold prices over the next 5 to 15 years? Get ready to be shocked!
Gold prices grew about $100/oz. per year between 2003 and 2006. Gold was $300 in '03, $400 in '04, $500 in '05, $600 in '06 and $800 in '07. Savvy investors and gold experts see $1,000 plus gold in 2008!
Recently many analysts have jumped onto the $1,000/oz. plus gold bandwagon -- most of whom were not considered "gold bugs" in the past, like Citibank and JP Morgan & Co.
Here's a list of fifty prominent analysts, authors and gold experts already on the record forecasting four-digit gold prices to arrive in the years ahead. Their combined gold price expectation is $2,200/oz. gold!
Count for yourself the dozens of good reasons for owning gold today, which these experts suggest will drive gold prices sky high. I've listed two dozen reasons at the conclusion.
MICHAEL WIDMER, Analyst, Lehman Brothers
"All the newsflow coming out of the U.S. is hugely bullish for the gold market. In the end, what lower interest rates mean is that it will be difficult for the dollar to come back strongly. Inflationary pressures are something that are also playing into the market. Fundamentals are strong and I think $1,000 would not be an end. We are going to go higher from there." - The Guardian, 2-29-08
PAUL WALKER, Chief Executive GFMS
"The price of gold is likely to peak at just over $1,000 per ounce in 2008. Gold is dancing to its own tune and not just being influenced by a weaker dollar. Walker estimated that investor demand was 12 percent of total demand for gold in 2007." Reuters, 2-4-08
SEAN BRODRICK, Editor, Money and Markets
"Gold has enjoyed a great run over the past few years, but it hasn't been a straight path. But one strategy has worked time and time again: Buy the dips. It takes courage to buy when everyone else is selling. But if you do your research, you can act with confidence that even if gold dips lower than you're buying it, the upside potential is huge. My preliminary price objective for gold is $1,065 per ounce, and it could go a lot higher than that." -The Coming Gold Surge, Investors.com, 2-4-08
DAVID GAROFALO, CFO, Agnico-Eagle Mines
"We don't see any reason in this cycle why gold shouldn't reach its real all-time high, which is actually about $2,200 an ounce," he told reporters after a presentation in Toronto, adding the time frame of three to five years. -Reuters, 1/10/08
OTTO SPORK, Hedge fund manager, Sextant Capital Management Inc.
"The price of the yellow metal is en route to $1,500 an ounce within the next two years. We could easily see $35 or $40 per ounce for silver over the next couple of years. We feel that certainly the junior gold and other resource stocks are nowhere reflecting their true value." -Globe&Mail, 12-4-07
JAMES DINES, Editor, The Dines Letter
"We would be very surprised if the gold price did not blast right through the old highs, and we reaffirm our old targets for gold of $3,000 to $5,000 an ounce (Plus silver over $100 an ounce) ... gold is not merely a colorful trinket but a monetary asset, and when mass fear strikes at the heart of paper money, the stampede to gold will be awesome." -MW, 11-5-07
ROB LUTTS, President, Cabot Money Management
"Gold will hit $850-$870 by the end of 2007 and $2,000 gold is achieveable in this move, given the huge demand from ETFs and soon pensions and insurance companies will be buying gold as a new alternative asset class." -CNBC, 11-2-07
DAVID DAVIS, Analyst, Credit Suisse
"The gold price will soar to more than $1,000 per ounce over the next five years as dwindling supply of the precious metal combines with increased demand. Upward pressure on the price of gold is being driven by the economic environment surrounding the US economy and a change in the supply and demand dynamics surrounding gold." -London Telegraph, 11-1-07
JOHN HILL and GRAHAM WARK, Citibank analysts
"A'Reflationary Rescue', in a new cycle of global credit creation and competititive currency devaluations could take gold to $1,000 an ounce, or higher. Central banks have been forced to choose between global recession or sacrificing control of gold, and have chosen the perceived lesser of two evils." -London Telegraph, 10-1-07.
PAUL O