Washington, D.C. (rightcommentary.com): Gold continues its climb above $900 per ounce, fueled by record oil prices and a weak U.S. dollar. Gold is currently trading around $927 per ounce, up approximately $5.

According to an article in today’s MarketWatch, analyst Peter Grandich told his subscribers, “Oil is obviously leading gold and if the historical gold vs. oil ratio ever returns, we could see gold as high as $1,500…”

Citigroup analyst, John Hill, sees gold possibly doubling in coming years according to an article in the Financial Post entitled Gold price may double in long-term: Citigroup. Mr. Hill told clients: “Longer term, we would not be surprised to see gold double from current levels as the global policy prescriptions for the credit crunch remain powerfully and uniformly re-flationary..”

Silver is currently trading at $17.87, up $0.16. Platinum has gained $40, trading at $2,182.