Wednesday, June 2, 2010

Big Numbers Unveiled For Gold

As reported by the Financial Post's Jonathan Ratner, Peter Schiff is calling for $5,000-$10,000 gold in the next five to ten years. Glusken Sheff's David Rosenberg is calling for $2,500 gold, and notes that gold fever is on the verge of kicking in. The CPI and money supply figures will push gold up, and supply is constrained as the easy gold has been found.

Contrarians might get skittish seeing these numbers in the popular press, but (as noted by Rosenberg) the gold trade is far from being one-sided now.

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