Gold prices have surged to record highs, and many experts say you ain’t seen nothing yet.
Barclays Capital, not known for its extreme views, sees the precious metal possibly hitting $1,500. Investment guru Jim Rogers — who is known for extreme views, and for being right — now says gold will likely breach $2,000.
Gold topped $1,050 amid the dollar’s decline and fears of inflation, as the U.S. racks up massive budget deficits. The government’s debt burden is forecast to reach 56 percent of GDP this fiscal year.
“Having rallied ‘off the charts,’ we are left to resort to projections and extrapolated trend lines to forecast where the move might stop,” Jordan Kotick, Barclays’ head of technical analysis, wrote to clients. (more)
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