{"id":13,"date":"2008-01-24T07:59:59","date_gmt":"2008-01-24T12:59:59","guid":{"rendered":"http:\/\/www.howtoinvestingoldnow.com\/blog\/investing-in-gold\/%e2%80%9cgold-could-hit-four-figures%e2%80%9d-13\/"},"modified":"2015-05-03T18:06:56","modified_gmt":"2015-05-03T23:06:56","slug":"gold-could-hit-four-figures","status":"publish","type":"post","link":"https:\/\/www.howtoinvestingoldnow.com\/blog\/13\/gold-could-hit-four-figures\/","title":{"rendered":"\u00e2\u20ac\u0153Gold could hit four figures\u00e2\u20ac\u009d"},"content":{"rendered":"
Tweet<\/a><\/div>\n

The market has started to look at gold as money again rather than just a commodity, writes Ed Bugos (Whiskey and Gunpowder) in an article on the Money Week website<\/a>.<\/font><\/p>\n

He forecasts \u00e2\u20ac\u0153a $1,200-1,400 high for gold\u00e2\u20ac\u009d in 2008, \u00e2\u20ac\u0153that will break the bond market\u00e2\u20ac\u2122s back, and make stocks cheap again\u00e2\u20ac\u009d.<\/font><\/p>\n

He says he is \u00e2\u20ac\u0153also looking for an intermediate bottom of the dollar, big corrections in the energies and base metals, and a global recession\u00e2\u20ac\u009d, continuing \u00e2\u20ac\u0153It is still timely to buy the dips in gold prices and to accumulate sound mining assets \u00e2\u20ac\u201c though good share values are becoming more difficult to find\u00e2\u20ac\u009d.<\/font><\/p>\n

Under a sub headline \u00e2\u20ac\u0153Gold Is Sounder Money!\u00e2\u20ac\u009d Bugos quotes an excerpt from an article \u00e2\u20ac\u0153Gold Is the New Global Currency\u00e2\u20ac\u009d in the Financial Times of January 8, 2008, which he uses to highlight the \u00e2\u20ac\u0153increasingly frequent theme in the leading financial papers\u00e2\u20ac\u009d that the market \u00e2\u20ac\u0153has once again started looking at gold as money, rather than as a mere commodity\u00e2\u20ac\u009d.<\/font><\/p>\n

He also cites John Kaiser of the Kaiser Bottom-Fishing Report, who \u00e2\u20ac\u0153believes the market is nearing a flashpoint where the sceptical public finally turn into believers and come rushing in\u00e2\u20ac\u009d. Kaiser \u00e2\u20ac\u0153reasons forecasts for gold [of] $2,000 are more plausible now that it is but \u00e2\u20ac\u02dca mere double\u00e2\u20ac\u2122\u00e2\u20ac\u009d.<\/font><\/p>\n

If gold is being considered as \u00e2\u20ac\u0153money\u00e2\u20ac\u009d, gold coins<\/a> are probably as good a way as any to acquire it little by little, e.g. when there is a dip in the price, and gradually build up a stock over time as prices rise.<\/font><\/p>\n

Incidentally, spot gold this morning was $900.40, up from $884.70 in New York last night.<\/font><\/p>\n

Tweet<\/a><\/div>\n