I'm only looking at 1 year in this conversation, but 4 years from now you could be somewhere in the $5,000 to $10,000 range with the ...
When you are dealing with any speculative asset you are dealing with unknown random events that could move its price. They could be big moves too. In light of this, gold has as much a chance of going up, as it does down. So under this reasoning gold could go to any number - the key word is could.
Putting mathematical and linguistic concerns aside, the investing (upside betting) environment for gold is now looking better, given the large collapse in price over the past 12 months, but mostly because global geopolitical, disaster and climate events are accelerating; creating the potential for a "Black Swan Event" that would be very good for gold prices in the near term.
In the long run, we still do not ascribe much intellectual or "real physical economic" value to this metal. It is a value that primarily depends and appeals to people's inner brains' sensory and emotional cognitions based on the allure it earned in ancient times. However, our rational frontal cortex is not so allured or intrigued by its largely superficial attributes.
First Financial Insights
September 4, 2013