Going for Gold

With some forecasts suggesting gold could go to $2000 as soon as next year, should you get in now?

It sure seems like investors are whipping themselves into a frenzy over this precious metal.

During an interview on CNBC, Jim Rickards, senior managing director of market intelligence at Omnis, said he’s been bullish on gold for a while and said he sees gold rising to $2,000 an ounce “without breaking a sweat” in 2010.

What should you make of his comments?

They reminds me of what guys were saying about technology in 1999, muses Gary Kaminsky. Tread cautiously.

You don’t even have to go back to ’99, adds Joe Terranova. That’s what they were saying about oil just last year. $2000 gold seems like a little much to me.

I can’t think of a scenario that makes gold go down, says Guy Adami. But that concerns me. Remember gold takes the stairs higher and the escalator down. Should you bet on gold here?

What do you think? We want to know!


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Trader disclosure: On November 19th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Najarian Owns (BP) Calls; Najarian Owns (DELL) Dec. Call, Is Short (DELL) Nov. Calls; Najarian Owns (INTC), Is Short (INTC) Calls; Najarian Owns (MCD) Call Spreads; Najarian Owns (TXN), Is Short (TXN) Calls; Najarian Owns (UUP) Calls; Najarian Owns (YHOO), (YHOO) Puts; Najarian Owns (BG) Calls; Najarian Owns (KG) Calls; Terranova Owns (POT), (GOOG), (AAPL), (SU); Terranova Owns (UNG) April 2010 Calls; Terranova Owns (FDX) Dec. 2010 Calls; Terranova Is Short Crude Oil January 2010; Terranova Owns Crude Oil December 2010

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