Gold Price: An insider’s take

Gold Investment - 26 December 2011

A director at US-based Strategic Gold Corporation, David Williams, someone who can most definitely be deemed as being on the inside, is of the opinion that chances are great that the gold price will surge to $3000 an ounce or even higher in less than 6 months’ time.

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Williams’ take on the likely upward movement of the gold price to $3000 an ounce and beyond within 6 months, might seem like pie-in-the-sky, but it should be noted that he has only come to that conclusion after consideration of economic data and a careful observation of market trends. It is after all no secret that an increasing number of investors are flocking to the safety offered by precious metals such as gold and silver. As Williams concurs: “The moves that we are experiencing right now on the way up has to do with gold being viewed as a store of wealth", and furthermore, “as people realize that's a better place to go with it then it will pop up” (Gold Set to Surge to $3,000 by June, Wealth Wire, Brittany Stepniak, 21 December 2011). This being said, Williams also expects to see one more wave down on the technical side, but expects that the gold price will quickly recover from such levels to be pushed higher and higher, mainly as a result of inflation that will finally filter into the system. It is after all no secret that mountains of fiat money (non-redeemable paper notes, electronic money, the Devil’s money, fiat currencies) have been pumped into banks, fiat money that is at the moment mainly just sitting at the banks, waiting to be released into the real world.

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Given the above, it means that we could see a gold price of $3000 an ounce or even higher by June 2012 based on an insider’s take, which will be a huge increase from present levels of around $1600 an ounce. If gold is beyond one’s budget, then an investment in silver, physical silver that is, should be strongly considered. Silver, like gold, also offers protection against inflation and other nasties, but at a fraction of the gold price. Silver is currently trading at more or less $30 an ounce, which makes it dirt cheap insurance against out-of-control inflation and other economic calamities.