A $1,000 gold price may have looked to be an optimistic forecast not long ago but today it seems close to reality.
Gold hit a record high price of more than $900 an ounce earlier this month and while it has since fallen back, there are those insistent it has further to climb before its bull run is over.
Much has been written over the past few years about the bull run in commodities.
The price of gold increased by 24 per cent in 2003, 16 per cent in 2004, 21 per cent in 2005, 26 per cent in 2006 and 31 per cent in 2007. If the metal does reach $1,000 this year, that would represent a further 19 per cent increase.
Among those betting on a continued high price for the precious metal are US analysts at Goldman Sachs, who in mid-January revised their price targets to $915, up from its earlier forecast of $800.
Forecasts on the gold price – and the price of oil – over