q and update, page-52

No problem.

I mentioned I believe gold should already be at $2,800. I also believe there is quite a bit of upside because of the debt.

Jim Rickards is one of the few people I pay a lot of attention to.
He has resources well beyond anything we have. He advises not just wealthy individuals and institutions but also government departments.

In this interview at around 6 minutes in, he says that he expects the gold price will continue its uptrend and reach around $5000-$7000 in several years.
There are many commentators telling us gold is or is not in a bubble. Most I don't pay too much attention to. Jim Rickards I do not ignore. I do my own thinking and research. Many of the more respected analysts have targets above mine. That is understandable because mine are based on current levels of M3 not future levels.
If you prefer to use M2 or even M1, then based on M1 which is up by a factor of "just" 5.8, gives me $400x5.8= $2,300.
M1 is too conservative IMO but still gives a target of $2300 for where gold should be trading at NOW.
Before anyone asks why isn't it there now, watch the video for Jims answer to that question.
The chart on gold below shows why I go back to 1980 and not before. It gives the earliest relatively stable period after gold was allowed to trade in a free market.
I don't use the $800 peak of 1980 (which would double my current targets) nor do I use the low closer to $300. $400 seems a conservative average price over the 4-5 year period after the price settled down.

I am comfortable with using $1650 as a very conservative price, I am comfortable in my expectation of over $2000. I see why it will probably go much higher.

http://futuremoneytrends.com/index.php/category-table/171-james-rickards-on-central-banks-obsession-with-gold-and-why-more-qe-is-imminent