Gold May Rise to $2,000 as Alternative to Currency, Eric Sprott says

"As investors continue to buy gold preferring it to paper money the price may go as high as $2000 before the end of this year says Eric Sprott Chairman, Chief Executive Officer & Portfolio Manager of Sprott Inc . Gold will rise by at least 17% this year, Sprott said today in an interview during the New York Hard Assets Investment Conference. The metal averaged $1,228.45 an ounce last year on the Comex in New York and ended 2010 at $1421.40. via Bloomberg

“It’s gone up 17% a year for the past 11 years; I’m sure it will do that as a minimum,” Sprott said. “It could easily hit $2,000 this year. That wouldn’t be out of the question.”

at http://goldbasics.blogspot.com/2011/05/gold-may-rise-to-2000-as-alternative-to.html