Gold prices -- which are trading at $1,216 an ounce -- have climbed more than 8% year to date, with many analysts predicting a big rally in September. Frank Holmes, CEO of U.S. Global Investors, says gold prices historically move 2.5% higher as India and China enter their wedding and festival seasons, which boosts gold jewelry demand.
Many predict analysts gold prices can rise to their inflation-adjusted price of $2,300 within a few years. Others like author Mike Maloney argue that gold will cover all the money in circulation, including credit, and climb to $15,000 an ounce. Some are more conservative. Scott Redler, chief strategic officer of T3Live.com, is looking for $1,300 gold while James Rogers is looking for prices at $2,000.
Despite intermittent profit-taking as investors look to sell gold to raise cash, the trend points to long term four-digits prices. "Every day we stay above $1,000 the stronger that floor becomes," says David Morgan, founder of Silver-Investor.com. "I just don't see gold with all this going on in the markets right now, worldwide, globally getting below the $1,000 level. I think
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