Gold to $5000? From Bloomberg.com YesterdaySubmitted by Khomar on Fri, 06/20/2008 - 12:16
I ran across this interesting article today on Bloomberg:
He is talking about a dramatic rise in gold prices as people move their wealth from the stocks and bonds into precious metals to preserve the value of their portfolios.
From the article:
The limited amount of gold available, relative to the size of the global capital markets, means a small shift in investments may lead to significant price changes for the metal, Wyke said. Total gold above ground is worth about $4.8 trillion, compared with global stock and bond markets worth $135.2 trillion.