Going in to the weekend, spot gold is at $1594.10 (another new high). As surprising this may be to those people who haven't followed the 11 year bull market in gold, there are 90 knowledgeable analysts who predict a future where gold will go to $5000 per ounce - or more. There are several names I don't recognize but there are several I do and they are well-respected analysts. See how many you recognize in the article here.
As far as when gold will reach such lofty heights, the opinions differ. Some say yet in 2011, more before the end of 2012 and others all the way out to 2020. Ben Davies (CEO of Hinde Capital) sees a possible big move in the near future here = Gold to Break Above $2,000 in the Next 4 Months. One last thought-provoking article by the well-respected Ambrose Evans-Pritchard can be read at Return of the Gold Standard as world order unravels.
Here are the July 2011 and year-to-date totals (thru 7/15) for Gold American Eagles:
one-ounce gold eagles - 21,500, year-to-date 529,000;
half-ounce gold eagles - 1,000, year-to-date 56,000;
quarter-ounce gold eagles - 0, year-to-date 64,000;
tenth-ounce gold eagles - 5,000, year-to-date 255,000.
These are some low numbers for all Gold Eagles (compared to some previous months) and, with half of July over, it could well turn out to be the lowest month of production so far in 2011. Month-to-date Gold Buffaloes are at 4,000 (YTD - 82,000) and Silver Eagles MTD 1,461,000 (YTD 23,764,500.
Thanks for reading.
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