Gold Prices Top $1,000 Reaching Highest Point Since February
Gold Analyst Says This is Just the Beginning; Gold Could Reach $5,000 in Three Years
Boca Raton, Fla., September 8, 2009 – The price of gold broke the $1,000 mark this morning, making it the highest price for the glittering metal so far this year. James DiGeorgia of the Gold and Energy Advisor (www.goldandenergyadvisor.com) has been predicting this for years though, and he says this is just the beginning.
“We could very easily see $1,200 gold by the end of the year, and I believe $2,500 gold could be here in the next 18 to 36 months, followed by $5,000 gold in three to five years time,” says James Digeorgia, editor of the Gold and Energy Advisor.
DiGeorgia points out that the treasury continues to print more money at alarming rates, bringing down the value of the U.S. dollar and increasing the value of commodities like gold and silver.
“We’re going to see a monetary panic of unprecedented size. Physical gold is the best insurance available for the stupidity of politicians. I believe everyone should have at least 20% of physical gold, not ETFs, but physical gold in their personal portfolio,” says Digeorgia.
China, the nation with more than $2 trillion in foreign reserves is stocking up on its gold supply. In addition, Chinese government officials are planning to abandon the depreciating dollar, creating a strong competing currency—one that doesn’t come with an $11 trillion debt attached.
This will force Washington to inflate the dollar even further, making the case for gold even more promising.
DiGeorgia points out that there is a shortage developing in physical gold. The U.S. Mint has stopped selling gold several times in the last few months. Dealer inventories are very low for all forms of the metal. Physical bullion and coins are getting scarce across the entire industry.
“Now is the time to get in on what will become the next big gold rush. If only one percent of current Wall Street investors cross over into gold, the gold market will expand to multiples of its current size. And if the public overall moves in, it will be breathtaking,” says DiGeorgia.
About The Gold and Energy Advisor
The Gold and Energy Advisor is a monthly newsletter that covers the precious metals, and energy markets with the single goal of delivering money making recommendations to its subscribers. It also provides frequent updates and special reports about investing. The Gold and Energy Advisor is edited by James DiGeorgia, who has extensive experience in precious metals and the energy markets, and is considered one of the world's foremost authorities in both areas.
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