BofA: Gold at $1,500 by 2011

Gold Prices Going UP

While Peter Schiff has said gold could go as high as $5,000 and ounce, and maybe more, in the short term there is still a good chance that it'll go up significantly, as some BofA (NYSE:BAC) researchers are looking at gold reaching $1,500 an ounce by 2011, saying as oil prices begin to move up again, gold will go with it.

With inflation probably higher than governments admitting to, it's only a matter of time till gold really takes off, and is doing very well in these times as it is.

Concerns are that oil prices will skyrocket because the lack of funding has cut back on production, and that will catch up with us and drive prices up as supply won't be able to meet demand.

Gold Prices Going Up