Right now, gold prices are hovering around $1,100/ounce. Can gold prices go as high as $6,500/ounce in the medium term? If you take a look at the charts of gold and silver appreciation against 23 currencies in the past ten years, one thing becomes crystal clear!
It is not the gold and silver that are appreciating rather it is the currencies that are losing against the gold and silver. What this means is that the regime of fiat currencies that was put in place after the collapse of the Bretton Woods System in 1973 is fast heading towards it's implosion. What's the reason?
Governments all over the world including the US are abusing their currencies and destroying their people's purchasing power by spending beyond their means and using debt to stay afloat. In US, the FED is printing green backs trying to goose up an economic recovery by taking up huge deficit financed by a massive debt.
Soon, this economically irresponsible behavior is going to lead to economic chaos, upheaval and later on to a recovery. Those who hold on to gold and silver investments are going to reap the most reward. As these governments print more and more of their currencies to spend more and more in hope of starting an economic recovery, gold and silver prices are going to appreciate sky high.
Gold offers the safe way to hedge against these falling fiat currencies. Take a look at these gold stocks; Ventana Gold stocks skyrocketed 3,000% in just six months, Appleton Exploration surged by more than 3,000%, Azteca Gold leaped by 2,300% and so on. This might be the best time to invest in gold stocks!
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