WINDERMERE, Florida (Stockpickr) -- It seems like the entire world is bullish on gold. Every trader I talk to, everywhere I turn, and everything I read is predominantly bullish on the future prices for gold. Every time I turn on the financial news channels, I seem to catch a guest talking up gold. Even central banks around the globe rarely say or do anything that is considered bearish to gold.
Just take a look at a few of these gold bull examples. Famous hedge fund manager John Paulson recently said that gold could hit $4,000 an ounce. According to permabear Peter Schiff, who has a target of $8,000 to $10,000 an ounce, gold is still a bargain. Jim Rogers is calling for gold to hit $2,000 in five years, a more tepid forecast. Even Barron's came out with a bullish piece on gold this weakened called "A Golden Era for the Yellow Metal," which forecasted that gold prices will average $1,500 an ounce by 2015.
Now even the investment banks are getting in on the party. Just this morning, Goldman Sachs Group (GS) announced an upward revision for its gold forecasts to $1,400 an ounce, $1,525 an ounce and $1,650 an ounce on three-, six- and 12-month horizons, respectively.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV