GOLD COULD MORE THAN QUADRUPLE BY 2012

Robert McEwen, chairman of U.S. Gold Corp. says gold prices will more than quadruple to $5,000 by 2012 (see more here on the potential gold super spike).  He says investors will reallocate capital to real money as the dollar loses its viability and money printing causes money to move into gold.

Cullen Roche

Mr. Roche is the Founder of Orcam Financial Group, LLC. Orcam is a financial services firm offering research, private advisory, institutional consulting and educational services.

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  1. Governments around the world are addicted just like a crack addict to cheap money . As long as they continue printing more and more currency then gold with continue to rise . I have been a gold bug for over 50 years and have seen what cheap money does to the price of both gold and silver along with other precious metals .

    • Paul, Your right about the munipulation of gold and silver but the game is changing. We have never put ourselves in the debt position we are in right now and it’s only going to get worse. With obama killing the middle class, who’s going to pay for it? How many congressman and senators fall in the middle class category. They will always have enough money to buy food. You starve a wild animal and he will do anything to get food. With unemployment at 17 percent, there will be trouble. Back to gold and silver, it’s going up.

  2. there isn’t enough gold in the world to replace the dollar. and if there were, its value would drop to a few dollars per ounce. you people are just speculating. in our life times the dollar will remain the major currency. if you don’t believe me, ask the Saudis who keep their currency with the dollar. They have real money: oil. They love gold for jewelry but for money they like oil and dollars. Stop leading people on; it aint moral.

    • I’ll not be asking the Saudi’s – in 20 years the oil will be gone and paper currencies will be as worthless as Arabian sand. If we look back at gold and the $US from 1990 to 2010, the reasons for owning gold now and in the future are ever more abundant and ever more compelling.

    • sure there is, it’s just a matter of how you price the gold (in dollars). divide existing dollars by weight of gold above ground and you get around $5,000/oz

    • John, Get your head out of your….. sand. It’s already too late for the dollar. With the presses running at full speed as we speak, the dollar is doomed. No way can we possibly pay our debt. The chicoms and the sandies know it and that’s why they’re silently diversifying to gold. Can you spell Zimbabwae, I can’t either.

    • The Saudis are forced to keep their currency with the dollar. Doing away from the dollar is like challenging the military superpower at the base of its ego where it hurts most. They would not dare do the same mistake that Saddam did when he tried to go with Euro looking at the consequences that happened in Iraq.

  3. Only one thing makes the price of anything go up, and that is someone else being willing to buy it at the higher price. They have been talking about $5000.00 gold for 5 years already. Eventually I guess someone will be right, though I pay little attention to thier idea’s about the timing of it.

  4. Loyd,

    Perhaps you have not followed gold in the last 10 years when it was at $250 oz. $5k is tough to imagine but so was a national deficit of 12 trillion and a national debt of 64 trillion if you add in the unfunded liabilities of medacare, and SS.

  5. Hi guys,
    I’m wishing and hoping that McEwan is right. It means that in a few years time i’ll be roaming the streets of Amsterdam in my “golden” porsche 911.I bet all my money on the “golden horse”
    How about y’all?

  6. I would not be surprised gold going much higher over the coming years. Gold already quadrupled last decade… in stealth mode, unnoticed or ignored by mainstream financial analysts. Since they can no longer ignore it’s performance now, there will be renewed media attention drawing buyers into the market and pushing prices up. The last move up is often steep so 5000 is not unthinkable, remember the Nasdaq-parties?

    Take a look at the past decade’s performance of the metal against other assets: http://www.commoditypress.com/2009/12/28/best-asset-over-a-decade/

  7. also watch paladium. percentage wise it will outperform gold as it has real uses and more being developed such as batteries that dont need charged for cell phones. cold fusion also possible with paladium and platinum already.

    • All precious metals will do well, but silver, palladium, platinum are all industrial metals too. Gold is pure money and so is less swayed by industrial activity. If there’s a big slump, debatably the industrial metals will take a bigger knoock back. You should probably have both in your portfoli as its almost impossible to tell which will be the best performer.

  8. I too consider myself a bit of a gold bug but I recognise that and so conciously look for reasons why gold will not go up. Generally while I do this I uncover more resasons to buy more of it. I do believe a lot of the $5000 claims but I put that down to wishful thinking on my part since i own some gold. But the most compelling argument I came across is when you look at the Dow Jones as priced in ounces of gold over the last 100 years.
    Crises come and go and during these crises (three of them in the last 100 years)the number of ounces it takes to buy the dow heads down towards 1 ounce. I honestly believe that is the target. So if the Dow stays at 10000 then gold will go there too. Check out this link:-

    http://goldnews.bullionvault.com/dow_gold_ratio_042920093

    It looks like a certainty to me.
    The dollar value of gold is irrelevant, just like the Zimbabwe dollar value is irrelevant. The buying power of gold looks set to appreciate by 900% when measured against things you want to buy.

  9. I’ll tell you the Govt. has to keep money flowing or job creation will be even slower than it already is and all the complaining people are doing about spending.
    If they ever saved anything they would be keeping their mouths shut.
    America dug it’s own hole.
    Every one should have saved a nickel for a rainly day.
    Not charge card balances of 30,000 and up way up.
    Gold is a saving for troubled times everyone should have some at $900.or less.
    Silver wouldn’t hurt either even at at 18. a Oz.
    It’s insuranmce for a insecure future.
    Heck can you trust your bank or didi the Govt printing keep it afloat.
    Save and learn to live frugallly.
    Live below your means even when things get slowly better.
    Learn to conserve and think get a education now.
    Save 15% per4cent even if yiou have to find a part time job to do it, I did and it worked out even with a lot of years gone by and a bit of real bad luck.
    Teach your children common sense.
    Get them some sort of education they can use to work.
    Cut back on T.V. and texting they are ruining their ability to think smart.