$2,300 Gold, Here We Come

Gold is not cheap, compared to the $200-per-ounce range of a decade ago. No argument. However, as our hockey-playing friends like to say, you don’t skate to where the puck was, you skate to where the puck will be.
by Jeff Clark, Casey Research:

While many of us at Casey Research don’t like making price predictions, and certainly ones accompanied by a specific date, it’s hard to ignore the correlation between the US monetary base and the gold price.
That correlation says we’ll see $2,300 gold by January 2014.
There are plenty of long-term charts that show a connection between gold and various other forms of money (and credit). Most show that one outperforms until the other catches up. But let’s zero in on our current circumstances, namely the expansion of the US monetary base since the financial crisis hit in 2008.
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