NEW YORK ( TheStreet ) -- Gold prices have broken $1,500 and it has many investors wondering if it's too late to buy gold.

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.

Many predict gold prices 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 ( THM) 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 Randgold Resources ( GOLD), is betting on a price target of $1,500.

Chuck Jeannes, CEO of Goldcorp ( GG), 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.

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