by Michael Lombardi, Mining.com:
I turned bullish on gold bullion in 2002. At that point, gold bullion was trading around $300.00 an ounce. Now, it trades above $1,250. Simple math suggests this is an increase of about 260% in 11 years, or an average gain of about 23.6% a year.
Other asset classes, like stocks, haven’t performed this well. In 2002, the Dow Jones Industrial Average was trading near 10,000. Now, it hovers close to 16,000, up 60%, or an average of 5.45% per year, over the last 11 years.
The big question from my readers these days is “If I buy gold here at $1,250 an ounce, will it more than double again?” My answer to this is YES, because I see gold moving to $2,500, even $3,000, by the end of this decade, if not sooner.
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