An interesting article on the outlook for gold prices in the next few years that was published by gold-eagle.com counters the arguments made by the gold bears out there.

Here is a quick summary of the pro-gold argument:

• Central Banks are now buying gold
• Easy to find gold has already been mined
• The Population has increased 53% since the last “gold rush” in 1980
• The majority of the population increase has ocurred in India and China and these people love to own gold
• Mining costs are increasing
• Red tape and bureaucracy slow down the opening of new mines
• Greenlight hedge fund went from owning GLD (a gold ETF) to owning physical gold
• Currency concerns point to gold good investment
• Politicians are making a lot of mistakes

Even if you are not as sure about the future of gold. I believe that is a solid prudent investment that everyone should make. Even as a hedge that gives you peace of mind. Buying gold can be justified on several levels.

Check out the full original article.