There is some good news on the Europe debt situation (Greece), because of speculation of a massive bailout plan that may come to pass. Speculation and hopes are building that a massive multi-trillion-bailout plan is being prepared to save the Euro zone.

The plan would include a recapitalization of Euro banks via private funds or by the European Financial Stability Facility (EFSF). The EFSF may also be leveraged in order to provide more resources without having to receive approval by national parliaments.

This is similar to the plan Tim Geithner discussed on September 16th in Poland. ECB board member, Lorenzo Bini Smaghi, explained that monetary officials in Europe have already begun to discuss the next steps to take in solving the debt crisis.

If the bailout doesn’t come to pass, then you can expect a domino like effect to hit Europe, because if Greece falls, others will fall as well. This is disturbing news to say the least, as America would more than likely be faced with another recession if Greece defaults.

The IMF released a statement over the weekend that read:

“The global economy has entered a dangerous phase, calling for exceptional vigilance, coordination and readiness to take bold action from members and the IMF alike. We are encouraged by the determination of our Euro-area colleagues to do what is needed to resolve the euro-area crisis. We welcome that the IMF stands ready to strongly support this effort as part of its global role.”

All this is a lot of information to take in, especially when you consider how this affects gold. One can’t really say one way or another how Europe’s debt issues will affect the overall state of gold.

On one hand, it could send gold to price levels never seen before, well over the $2,000 an ounce range because of investors and others trying to protect what precious money they have left.

On the other hand, we all know that cash is king, so investors may want to continue with the current selloff to gain any form of cash they can, especially if we head into another recession.

One thing is for certain when this topic is brought up. It seems that everyone thinks that gold will hit the $2,000 per ounce price range (including myself), yet most people disagree on the timeframe.

The fact of the matter is this; the economy is horrible – worse than it has been in a very long time, and just about every smart investor is putting his or her money into gold and silver to keep it safe. Some investors are putting money into precious metals to gain a quick return, but most who do it now just want to keep the money they have safe, and gold and silver are guaranteed safe havens right now and for the future.

So when will gold hit $2,000 per ounce? According to analysts from Barcalays Capital, gold will average $1,875 in the fourth quarter and then shoot to $2,000 in 2012.

“Gold prices tested fresh all-time intraday highs before dipping below $1800/oz this week; however the macro environment has become increasingly gold favorable with central banks keeping interest rates unchanged, the (Swiss National Bank’s) decision to limit the strength of the CHF (Swiss franc) and continued uncertainty surrounding the state of the global economy,” Barclays says in a late-Friday report. “Good physical demand has emerged from price dips, and other central banks have announced they will add to their gold reserves. In turn, barring short-term corrections, we remain positive on gold.”

I won’t go as far as to say that these analyst are wrong, because they are not wrong, gold will indeed hit the $2,000 per ounce price mark. However, I believe we will see that price before 2011 ends. I just don’t think that the price of gold can average under $2,000 for much longer. I will use this as backup; if the economy remains how it is now, or even worsens (which is what is happening), then gold is going to shoot up faster than originally thought.

However, if the economy starts to gain its footing some, then we may see gold stay under $2,000 for a bit longer. Either way, it is still gold, and everyone wants it! Look for gold to hit $2,000 per ounce before 2011 ends.

Investor Felix Zulauf

Zulauf actually thinks that the stock market will see more new lows this fall. He also thinks that eventually both the Fed and the European Central Bank will step in to support the financial system. Even though this may happen, Felix reiterates that “providing additional liquidity is not a solution, “if we don’t do it the system will break down.” His overall outlook for the future? Own a lot of gold and try not to be in too much debt.

Fred Hickey: Editor of The High-Tech Strategist

As is the case with his friend Felix, Hickey also thinks that the Fed being forced to initiate more quantitative easing as economic conditions deteriorate. However, according to Hickey, the drawback of more money printing is that “the Fed…can raise the nominal prices of assets – but not the real prices, because inflation will rise.” Hickey, who is an owner of both gold bullion and ETFs thinks that the better play right now is in gold mining stocks since they have lagged the price increase in gold bullion.

Marc Faber: Editor of The Gloom, Boom & Doom Report

Faber sees a short term bounce in stock prices and a possible correction in gold of $100 to $150. After all the rallying and overselling of metals, stocks will drift lower due to concerns over sovereign defaults, a dollar crisis, continued social upheaval in the Middle East and developed countries in the West, recession, lower corporate profits and the possibility of a “bust in China.” His thoughts on the overall gold market? Faber seems to remain long-term bullish, saying that “As long as the trio of Obama, Geithner and Bernanke are in power, gold is destined to move higher. Long-term treasuries have no value. They will default by paying interest in a worthless currency.”

Gold and other precious metals continue to look like one of the only really good investments left. Unless you own stock in a huge company from years ago, then putting money in gold and other precious metals like silver seems to be a pretty safe move.

*Remember, these are still only the opinions of three people. Always do your own research and really study the gold and silver market before investing.

Gold Rushed has been launched in response to the great readership Blogtown Press Blog Network has received on it’s silver buying blog, BlogSilver.com. We decided to do the same thing here and provide interested investors with a resource dealing strictly with buying and selling gold and those stocks, ETFs, and other avenues related to buying gold.

We’ll cover a large variety of subjects such as how best to get your hands on gold, which companies are gold plays that don’t directly put you at ownership of gold such as mining or refinery’s, or the new craze, Electronically Traded Funds, ETFs. We’ll break it all down as new opportunities arise to make money in a market that right now, is proving to be very profitable.

Buying gold can be tricky and you need to be aware of a lot of different things, things we can help you understand and get a good grasp on so you’re not buying gold randomly just to own a piece of shiny precious metal.

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