Gold Price

Over the last decade, gold price has risen from US$600/oz to more than US$1600/oz.   There is a famous saying that states, "Gold is the canary in the financial coal mine.".  Is the rising gold price telling us something about the financial world?

What is the main cause for the rise in gold price ?  Some experts have analysed the relationship of the currency supply in the world to the price of gold and concluded that they seemed to be closely related. What is the relationship between the value of fiat currency and gold price?  James Turk, co-author of the book - The Collapse of the Dollar, was one of them who explained the relationship well in the video below.

Gold Price vs Fiat Currency

So how high can the price of gold goes? Here are some possible predictions by those who have been right in their analysis about the economy and gold all these years:

James Turk predicts gold price will go over $2000 in 2012 and $8000 in a few years' time.

Gold Price Above $2000/oz

James Rickards, a well known lawyer, economist and investment banker, predicted and explained why gold will reach $7000 per ounce.   

Gold Price above $7000/oz

Finally, Mike Maloney from predicted gold price may reach $20000 per ounce.   In this 90 minute presentation he gave his 'most likely' scenario for the global economy over the next decade...short term deflation, followed by huge inflation or even hyperinflation and what this could mean for gold price.    

Debt Collapse - The Case for $20,000/oz Gold