Gold $10,000
This from an article over on the CNBC site entitled: Return to Gold Standard? Why Price Would Hit $10,000
The country’s monetary base (currency in circulation plus bank reserves held at the Fed) has tripled to $2.68 trillion, following the completion of QE2. Dividing this monetary base by the approximate 261.5 million ounces gold the U.S. Treasury is believed to own gets Brodsky to the $10,000 an ounce figure.
While “politics are likely to intervene” to stop gold from skyrocketing to this destabilizing price, that doesn’t mean bullion can’t keep surging from current levels as the devaluations continue, said Brodsky.
I'm not exactly sure how a pro-gold article made it onto CNBC but I thought it was worth passing on as it might help answer the questions we all ask as we consider buying gold: "Should I buy now," and "is the price of gold going higher?"



