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Gold at $5,000?
June 20, 2008

Comment That Gold Could Reach $5,000 an Ounce

I've read a lot of forecasts, predictions and ramblings on the future of gold. I've heard reasonable predictions of $1,000 an ounce, futuristic impressions of $2,000 an ounce and now a mathematical fiction of $5,000 an ounce based on limited available quanities and the anticipation of skyrocketing demand in the face of raging inflation.

Yes, $5,000 an ounce as a possible future for gold through the eyes of Christopher Wyke of Schroder Investment Management Ltd., a very large global investment firm. Of course you should consider that Wyke was busy promoting Schroder's new Alternative Solutions Gold and Metals Fund at a conference in Hong Kong when he made these statements. As a promotional urging it certainly did get Wyke and Schroder plenty of investment community and Internet buzz, which may be worth much more than $5,000 an ounce to their new fund.

Todays $5,000 an ounce remark is certainly a large revision of Wyke's March 2, 2008 comments in a TimeOnline interview, where he said that "Gold could reach $1,200 a troy ounce or even $1,500". But conditions are always changing and new information comes to light every day, so who knows, maybe a 330% increase in ones forecast over a 3.5 month period is reasonable. Or maybe within context Wyke was talking about a more distant future, one which I will never expect to see.

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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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