8 Analysts See Gold Going To $3,000-$10,000 In 2012!
Porter Stansberry: $10,000 December 2009 article entitled This Little-Known Rule Could Send Gold to $10,000 he wrote:
" [Back in 1999] two well-known economists - Alan Greenspan and Pablo Guidotti - published a secret formula in a 1999 academic paper. The formula is called the Greenspan-Guidotti rule. The rule states: To avoid a default, countries should maintain hard currency reserves equal to at least 100% of their short- term foreign debt maturities. The world's largest money-management firm, PIMCO, explains the rule this way: 'The minimum benchmark of reserves equal to at least 100% of short-term external debt is known as the Greenspan-Guidotti rule. Greenspan-Guidotti is perhaps the single concept of reserve adequacy that has the most adherents and empirical support.'
Greenspan-Guidotti means the U.S. is likely to have a severe currency crisis within the next two years. How high will gold go during this crisis? Nobody can say for sure. We've never been in the situation we are now. The numbers have never been so large and dangerous but I wouldn't be surprised at all to see gold at $10,000 an ounce by 2012. Make sure you own some."
Gold prices will rally again in 2012 to reach $2,000 to $2,500 per ounce according to a commodities strategist at Bank of America Merrill Lynch.
UBS have reiterated their bullish outlook for gold and believe gold will average $2,050/oz in 2012.
Barclays Capital says gold will average $2,000/oz in 2012 - which is 25% above today's spot price.
John Embry, chief investment strategist of Sprott Asset Management, said the price of the yellow metal could possibly exceed $2,500 in the next 12 months.
Australia's Bureau of Resources and Energy Economics forecast in its December quarterly report that gold prices in 2012 would still go up 17 per cent to $1,850 an ounce.
Gold has risen 645% while the Dow Industrials has only gained 13% over the past decade.
Gold has maintained its safe haven status for thousands of years and there is not another investment that can make that claim.
No one ever mentions that in spite of the recent and much publicized decline, gold is still up $220.30/oz or 15.91% for the year. That's almost double the gains in the Dow.
CALVF GOLD Chart 3year LT TA Bull Long Term Trend - make it your friend - :-)
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