The Wildest Gold Forecast Yet

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Dan Dorfman

Wild, off-the-wall gold forecasts -- some of which have proved to be anything but wild or off the wall -- are a dime a dozen. Here's one that floored me; maybe it'll floor you, too.

First, the last thing I want to do is sound like a broken record after having written a very recent piece on the global buying rampage in gold. Nonetheless, I felt compelled to do a fast follow-up on the ongoing skyrocketing investment demand for the precious metal after hearing what has to vie for the mother of all gold forecasts.

No, it's not one of those flamboyant predictions that gold -- which topped $1,000 an ounce in early September and recently sprinted to a new all-time high of $1,153, is headed for the moon. Rather, it's an equally shocking assertion from a market-savvy veteran online investment adviser, Mark Leibovit, who not only sees the metal ballooning to new highs, but tells me "I doubt that we'll ever see $1,000 gold again."

Why not? Because of such catalysts, he explains, as the sinking dollar and the debasing of currencies by 24/7 money-printing around the globe (both of which point to higher inflation down the pike). Yet another catalyst for a higher gold price is a significant flip-flop by central banks, which have switched from gold sellers to gold buyers. As a result, Leibovit says, something above $1,000 an ounce is shaping up as a new floor for the metal.

The Wildest Gold Forecast Yet