Precious metal prices pushed to new highs today with gold futures topping $600 an ounce for the first time since January 1981 and silver futures trading above $12 an ounce.

Fund buying, firm oil prices and a weaker dollar combined to boost prices.

Swiss America CEO Craig R. Smith believes gold clearly is headed toward $1,000 an ounce and still is a great bargain at $600.

“Gold futures jumped over $600 today – however, we could see a minor price correction any day – the sign of a healthy bull market which presents yet another opportunity to buy the dips in this ongoing secular bull market,” Smith said.

Nearly five years after first writing the book “Rediscovering Gold in the 21st Century,” Smith recently announced he expects to see $1,000 gold prices within the next five years.

When his book was first released in August 2001, gold was near $265 an ounce. Gold is now up over 120 percent since 2001 and 34 percent year-over-year.

“Contrary to mass media financial headlines, after subtracting inflation’s effect upon the falling U.S. dollar, gold is not at “25-year highs” as reported, but rather near 5-year lows, using official government statistics,” said Smith.

So $1,000 gold today, he concluded, only equates to $500 gold in 1980.

“Metal prices are still a bargain in terms of global buying power, and the world knows it, fund managers are discovering it – now the only question is, when will the American public?” says Smith.

To help educate the public about gold, Smith has an extensive free online library of resources at which he discusses:

  • Why is gold up? … How far will it go?

  • Do interest rates affect the gold price?

  • Is the U.S. dollar fundamentally strong, or slowly collapsing?

  • How is our $9 trillion debt prompting central bank gold buying?

Sample free online educational resources:

Related offer:

Rediscovering Gold in the 21st Century: The Complete Guide to the Next Gold Rush

Note: Read our discussion guidelines before commenting.