7 & 8 September 2009
Perhaps I'm getting a little ahead of myself. But in the investment world, it is always necessary to think ahead.
The gold analysts whom I respect are now almost universally suggesting that we will very soon be paying $1300 an ounce for gold, rather than the current $990 or so.
Consider Clive Maund's recent analysis (click here):
Or have a look at Prieur du Plessis' recent article (click here):
As you know, the price of gold is volatile, so it may be possible for a while longer to keep buying it under $1000 per ounce.
But it seems that it was only yesterday when our upside target was $400 per ounce. At that time, Richard Russell of beautiful La Jolla, California suggested that we would soon be viewing $400 gold as "dirt cheap."
How right Mr. Russell was! Production costs alone have now generally moved well beyond the $400 per ounce level (as inflation in the price of almost everything we need has been a persistent trend in the Greenspan and post-Greenspan eras, despite heavily massaged government statistics to the contrary).
I've been writing for a while that we will soon have to think of $1000 gold as "no longer available." So let's plan ahead - to get used to paying $1300 per ounce for gold, because that new price level is "coming soon."
Oh, and if you don't own gold at this time, you'd better buy some now - while it's still "cheap," at under $1000 per ounce!
8 September 2009:
Here are a couple of additional very informative articles on gold priced above $1000 per ounce:
Howard Katz: $1000 Gold
Thomas Tan: The Beginning of the Gold Era
$1300 gold - it's the new normal....
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