$2,500/oz is likely until we see interest return to more normal levels and zero percent interest policies are supplanted by positive real interest rates.

The highs will come because many major currencies are unsound, overburdened with debt, and being actively diluted by governments.

Gold prices were higher for a third straight session on Tuesday as weak U.S. economic data kindled hopes that the Federal Reserve would take new steps to stimulate the world’s largest economy.

Gold is gaining favor – and serious momentum – as Republicans actively support returning to the Gold Standard nixed by Nixon on August 15, 1971.

Boyd also warned of reduced supply, which could be one of the main drivers for a huge bump in the gold price.

And thanks to the Wall Street Journal, we know it’s not just day traders and hedge fund kings loading up –- also the world’s biggest bond investor, PIMCO.

Dramatically worsening economic data is increasing the likelihood of further monetary easing generating a nice bid for gold.

Commentary: Are gold fundamentals, technicals most bullish ever?
“If this is correct, the gold price should soon be expressing itself in violent upside action as it moves into the third wave, which is still targeted to reach $4,500.”

Officials, investors, and financial planners have advised everyone in China to buy gold on relative weakness because it is the only safe have for risk-averse investors

Most forecasters have turned more pessimistic on the economy, despite recent, modestly better news on retail sales, payrolls and the battered housing market.