Gold is headed to $2,000 an ounce

MNB

A US investment expert said that through gradual increases, the price of gold could reach $2,000 an ounce.

Frank Holmes, chief executive officer at US Global Investors, said that gold will hit $2,000 an ounce, and that while the move won't be straight there from current levels, investors should not be surprised by it. In a radio interview, Holmes noted that virtually all commodities have gone through their “inflation-adjusted 1980 price levels,” with the notable exception of gold, and that to get to that range the price of gold would have to top $2,000 an ounce. Holmes said he expects a short-term pull-back in gold - based on a correction he sees coming in oil and a short rally in the dollar, both of which will impact gold prices - but that the long-term trend will be strongly upward. (marketwatch)

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