Sees Gold Breaking into Four Digits in 2008

Freemarket Gold and Money Report
"...here’s how I see it for 2008. (1) Gold will finally break into 4-digits, which will be an event that gains worldwide attention. I think the high in 2008 will be $1,500, and the low will be $780. Gold will probably end the year at $1200-$1300, generating at least a 50% gain in 2008. The same monetary problems driving gold higher for the past six years continue, including: (1) the dollar will continue to decline, threatening its 6-decade global monetary stranglehold as the world's reserve currency, (2) inflation will worsen as the price of commodities as well as other goods and services rises, (3) the federal government budget deficit will grow, further debasing the dollar, and (4) global trade imbalances will continue to create huge pools of hot-money looking for a safe home, much of which will end up in gold."(12/17/07)

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