Is Gold Heading for $5,000?

Commodities / Gold and Silver 2010
May 14, 2010 - 12:18 PM

By: Jeff_Clark

By Jeff Clark Editor Casey’s Gold & Resource Report : http://www.caseyresearch.com/crpmkt/crp ... 178ED0510A Gold is once again above $1,200 and making new highs. And yet, Doug Casey thinks we’re just getting started, estimating gold could touch $5,000 before this is all over. A titillating thought, to be sure, but... how likely is that?

Gold’s latest rise stems from mounting fear that the Greek bailout will be followed by other euro-area countries queued for a me-too handout. In other words, gold is serving its historical role as a safe haven, a store of value, and an alternate form of money when governments recklessly plunge themselves heavily into debt and abuse their currency.

“But Jeff, $5,000 gold is a long way up,â€