NEW YORK (
have broken $1,500 and it has many investors wondering if it's too late to
Gold prices have climbed 5.5% year to date, with many analysts predicting continued strength throughout the rest of the year on inflation worries and lose money policies from central banks.
can rise to their inflation-adjusted price of $2,300 within a few years.
"We look at 2011 seeing $1,500 gold," said Jeff Pontius, chief executive officer of
International Tower Hill
although Pontius believes that prices could reach as high as $2,000 an ounce in the longer term as the U.S. dollar continues to lose ground.
Mark Bristow, chief executive officer of
, is betting on a price target of $1,500.
Chuck Jeannes, CEO of
(GG - Get Report)
, said reaching $1,500 an ounce is "easily achievable." Jeannes said it's important to consider highs adjusted for inflation, which could push the price as high as $2,300.
Despite volatility, the trend points to long term four-digit prices. The gold price has recently resumed its tight inverse correlation to the U.S. dollar, which
Standard and Poor's
estimates is 32% of the time, and it's this factor coupled with negative real interest rates that should push gold prices higher.
Regardless of gold's price, most portfolio managers recommend that an investor have 3% to 10% in gold. For most, investing in gold isn't a quick trade, but insurance. Here are the top four ways you can invest.