Editors Note: This author is right on about the future of gold prices. With uncertainty in the economy and world currencies collapsing it is quite evident by now why gold is a great investment in the future, not cash, not banks, not stocks, bonds, or real estate, but Gold! A gold mine? Even Better.
Fears of inflation and global turmoil have sent precious metals surging, with gold trading at all-time highs on the edge of $1,500 an ounce. How much further can it climb?
The road to $5,000 gold
This is because, according to the folks at Standard Chartered Bank, gold is moving into a new “super-cycle” as a number of structural factors — including consumer demand from Asia and tepid growth in supply — combine to push prices higher. The team, led by Dan Smith, is looking for prices of $2,107 an ounce in 2014 as its base forecast.