Gold Prices could rise as high as $5,300 an ounce if past projections and the 1980 peak in the value of the precious metal is anything to go by.

That is the opinion espoused on a Reuters blog, in which Martin Hutchinson suggested that such an outcome is far from impossible.

He explained that based on consumer price inflation, the $875 per ounce high seen in 1980 is equivalent to a value of $2,400 in 2010, nearly twice the current value.

"But there's a case for taking account of economic expansion as well as price inflation," Mr Hutchinson's blog post added.

The huge potential of Gold Investments is something that Jim Rogers, trusted investor and founder of the Quantum Fund, also believes in.

In an interview with Bloomberg TV, he said that the reason for this is the faltering state of the euro and other paper currencies.

"The fundamentals are terrible for all paper money," he noted, explaining that Gold Prices will rise as politicians try to ease short-term problems by printing money.

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