Gold To Hit $2,000/Oz in 2009
May 10th, 2008 by Wealth Builder [This post is written and copyrighted by Wealth Building Lessons (http://www.wealthbuildinglessons.com).]
According to Peter Schiff, Gold should be back at $1,200 by year end. He also thinks that it’s impossible for the US dollar to make a comeback because the Fed will not raise interest rates for fear of pushing the economy into recession.
He states that Gold should hit $2,000 per ounce in 2009 and within 4-5 it might even hit $5,000!!!. He also thinks that Silver’s rise will be even larger than that of Gold!
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8 Responses to “Gold To Hit $2,000/Oz in 2009”
Dow 30,000 by 2008
Anyone can say any crazy price, it doesn’t mean that it’s backed up by anything substantial
isn’t that what you said in May of 2007 when gold was under $600
I am really hoping it will go up to USD2,000 and then to USD5,000.
If it reaches USD5,000, it would mean about 5 times growth! If you invest USD20,000 now, that would be USD100,000 in 5 years time.
WOW! That’s a great investment.
Carson,
your gold might be worth $100,000, but in terms of buying power, it’ll still be worth only $20k in todays dollars
of course,you’ll still be richer than your friends and since wealth only brings happiness if you do better than your friends, atleast you’ll be happy!!
Peter Schiff is a great resource. I just reviewed his latest book, Crash Proof, in a recent post of mine. I was investing in gold for a while but then didn’t like the vehicle. I have yet to find a vehicle that suits me for it. Because I also invest for income; I’m not totally comfortable just investing for pure growth.
I guess $5000 / Oz if possible if the rate at which US prints money does not stop. A currency not backed by Gold is not real money at the end of the day. The increase in the price of gold is actually not an actual increase in value of gold but just a decrease in the value of the US dollar. When you start printing US dollars like Monopoly money, gold at $100,000 / Oz is also possible. Unless people stop tagging the price of gold to the US dollar and instead tag it to the Euro or Pound.
I always find these interesting. At first glance, gold is sitting at about $750usd and Peter prediction about gold looks like it was a flop.
However if one leaves the USA then he was spot on. I’m in OZ and right now gold is $1100 been as high as $1400.
Enjoy.
Ademac
SEPT 2009 - GOLD @ 1000. Your prediction is way off.