$10,000 Ounce Gold? Gold @ $10,000 a Possibility or Fantasy?....
I remember not long ago when $1,000 once gold seemed like a crazy prediction. Especially @ $200 - post BreX.
Gold now seems like a bargain at $1,000. The $2,000 price level was nearly hit not long ago. Will investor's look back in a couple years from now and say gold would be a screaming bargain at $2,000? As we do today looking back at not long ago $200 gold.
That could very well happen. I think gold will continue moving higher, but where this market will end? I have no idea.
Now $10,000 Gold price has been predicted. As a gold stock investor like many who read this board. I have to wonder if this is just a marketing ploy or is there some solid analysis to back-up these predictions. Do they have a legitimate basis for they're price predictions?
Gold hitting $10,000 in about 5 years is a real possibility?
The amount of gold above ground is roughly near $2 trillion.
Much of the gold in the world is not for sale, there is only so much to go around. A shift to 2, 3 or 5 percent of global investor dollars to gold would lead to a dramatic run in gold.
Printing more money has bought the US some time on this matter, but how long can this continue? The dollar will probably continue to decline and this means more inflation = highergold prices.
It was difficult to imagine gold moving to $1,900 when it was trading at $200.
Gold will probably also become more of an investment asset class, which means more investment demand. The USA is already considering gold as zero risk asset.
Nobody can say for-sure where the gold price will be in 5 years. All indication's point to a much higher demand on the very limited above ground gold.
This situation can only boil down to the miners themselves. SLTA being in the unique situation of having a high grade gold discovery of up to $2,000,000 ounces, coupled with the major dynamics surrounding gold, it makes perfect sense to buy & hold.