Back in 2009 I began keeping track of those financial analysts, economists, academics and commentators who were of the opinion that it was just a matter of time before gold reached a parabolic peak price well in excess of the prevailing price. As time passed the list grew dramatically and at last count numbered 140 such individuals who have gone on record as saying that gold will go to at least $3,000 – and as high as $20,000 – before the gold bubble finally pops. Of more immediate interest, however, is that 8 of those individuals believe gold will reach its parabolic peak price in the next 12 months – even as early as February, 2012. This article identifies those 8 and outlines their rationale for reaching their individual price expectations.
Arnold Bock: $10,000
As Bock said in an article entitled “$10,000 Gold is Coming in 2012/13! Here’s Why” back in mid-June, 2010:
No wishful thinking here! As I see it gold is going to a parabolic top of $10,000 by 2012 for very good reasons: sovereign debt defaults, bankruptcies of “too big to fail” banks and other financial entities, currency inflation and devaluations – which will all contribute to rampant price inflation.
Porter Stansberry: $10,000
In Stansberry’s December 2009 article entitled This Little-Known Rule Could Send Gold to $10,000 he wrote:
…How high will gold go during this crisis? Nobody can say for sure. We’ve never been in the situation we are now. The numbers have never been so large and dangerous but I wouldn’t be surprised at all to see gold at $10,000 an ounce by 2012. Make sure you own some.”
Taran Marwah: $6,000
Our target for Gold since October 2010 has been US$6000 by December 2012…Physical Gold is the only financial asset in the world that is not simultaneously somebody else’s liability. That is the reason why we have been advising everyone since 2009 to buy ‘physical Gold’ [and recommending that they] store the bars outside the commercial banking system as most commercial banks in USA and Europe will be “insolvent” by December 2012. We repeat – Physical Gold is the only asset which will give “best returns” from 2009 through 2012.
Bob Chapman: $2,500 – $3,000
In Chapman’s August, 2011 issue of the International Forecaster he had this to say about gold:
Debt monetization will lead to ever-higher inflation…and explain the systemic problem of many nations, which have nowhere to turn to except the creation of money and credit to temporarily keep their economies going…[and] when you put it all together you get higher gold and silver prices…We would expect a move to $2,000 to $2,200, some backing and filling and a move to $2,500 to $3,000 by the end of February 2012, as we earlier predicted.