Four reasons for gold to hit $1,000 an ounce

Four reasons for gold to hit $1,000 an ounce: "Four reasons for gold to hit $1,000 an ounce
By Lord William Rees-Mogg
Money Week
Monday, March 6, 2006
Former Editor-in-Chief for the Times of London and Vice-Chairman of the BBC, Lord William Rees-Mogg, identifies the four factors which are likely to cause gold to reach $1,000 per ounce by the end of the decade. Lord Rees-Mogg has been credited with accurately forecasting glasnost, the fall of the Berlin Wall, as well as the 1987 stock market crash.
The gold price has doubled in the last three years. It has now settled at around $550 an ounce, after some profit taking. The World Gold Council expects that it will go to $600 an ounce by the end of the year...
It seems likely that the gold price will continue to rise; another doubling of the price in the next three to five years is entirely plausible on the known facts. I have expected the price to go above $500 an ounce since the rise started and I now expect it to reach $1,000 an ounce by the end of the decade... "