The road to $5,000 goldWith turmoil overseas and energy prices on the rise, investors areworried. They're worried about geopolitical risk. They're worried about afalling U.S. dollar. And they're worried about inflation becomingentrenched as the Federal Reserve continues to administer itscheap-money medicine despite signs of inflation.
As a result, goldis on the move again. For much of last year, gold moved higher overworries about Europe's debt crisis and a "double dip" recession in theUnited States. Prices fell into a funk in the fall, though.
Now,a new set of concerns has gripped the hearts and minds of investors.Fear has returned. And the yellow metal has taken flight. Prices hit anew closing high at 1,474.10 last week, and seem headed past $1,500 anounce.
So how high can it go?
Believe it or not, someanalysts are calling for prices to move close to $5,000 -- notimmediately, but sooner than you may think.
The road to $5,000 gold
Thisis because, according to the folks at Standard Chartered, gold ismoving into a new "super-cycle" as a number of structural factors --including consumer demand from Asia and tepid growth in supply --combine to push prices higher. The team, led by Dan Smith, is lookingfor prices of $2,107 an ounce in 2014 as its base forecast.
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