Why Gold Will Surpass $2,250 per Ounce
I've raised my official price target for gold, and expect to raise it further after the next round of global monetary easing unfolds.
I happen to think gold is quite likely to strike $3,000 or beyond before this secular bull market is through, but in the emerging dynamics of supply and demand, I see elements falling into place that could force a fairly accelerated re-pricing toward that $2,250 mark.
Accordingly, after holding my target steady at $2,000 since 2007, I'm officially raising what I consider to be my ultra-conservative price target to $2,250 per ounce. And, because the rating agencies are permitted to hint at the likely direction of a subsequent call, let's just say that gold remains on "watch positive."