Gold has been the talk of the town in the last few months after it reached its all-time high. There has been a lot of debate and talks about this matter following the boost of gold prices nearly $100 per ounce annually since 2003. Records reveal that gold was $300 in '03, $400 in '04, $500 in '05, $600 until it reached $1,200+ early this year.
Back in 2007, Gerald Celente, Trends Research Institute Director predicted that a financial predicament will probably throw the U.S. dollar into a drop of as much as 90 percent and gold soaring to $2,000 an ounce.
"We are going to see economic times the likes of which no living person has seen, a panic of 2008," reports UPI.
Swiss America provides us with five noteworthy sample quotes from the 2007 "Future of Gold" financial journal. These experts present a number of of agreeable reasons for owning gold at this point in time, which experts agree will take gold prices to greater heights over the next decade:
ROB LUTTS, President, Cabot Money Management -CNBC, 11-2-07:
"Gold will hit $850-$870 by the end of 2007 and $2,000 gold is achievable 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."
CHRISTOPHER WOOD, Chief strategist, CLSA -London Times, 9-19-07:
"Market reactions, the sub-prime conflagration and a collapse of the dollar could send gold prices to more than $3,400 an ounce within the next three years. This is not a sub-prime crisis. Sub-prime has merely exposed the bigger scam of structured finance; a scam that is about pretending that bad credit is good credit."
"When FEAR combines with full blown Greed, there is no longer any more talk of correction as prices begin to jump 5% to 10% in one day and people line up to buy bullion as signs pop up everywhere, "WE BUY AND SELL GOLD". Once both fear and greed take over the market and the short squeezes begin in earnest, there is no way of predicting how high the high. $2,200 gold and $100 silver seems the barest minimum targets, maybe $5,000 or even $10,000."
DONALD LUSKIN, Chief investment officer, Trend Macrolytics -Smart Money, 9-7-07:
"I've written in this column about inflation often over the last three years. I've said gold was going to $1,000. If the Fed cuts rates, then I'm going to have to admit I was wrong. Then gold isn't going to $1,000. It's going to $2,000."
