Image via WikipediaGold prices may reach $6,200 per ounce in a bull run which will “end all major bull markets,” Urs Gmuer, asset manager at Dolefin, a Swiss investment advice firm, told CNBC. Gmuer’s prediction is based on analysis of the last major gold boom of the 1970s, during which gold prices rose from $35 per ounce to $850 per ounce. Gmuer said that in the current bull run, prices would be pushed upwards by a protracted period of global economic difficulty—potentially lasting years—during which investors would continue to search for so-called safe havens.
“Gold prices have risen over the last few years, as the macroeconomic picture has become worse. The deterioration of the fundamental situation has now gone even further.
“Purchases by investors of gold will be based on fears of systemic risk or banking crashes,” Gmuer said. More...
$6200 YAY!
ReplyDeleteThe idea of comparing useless fiat against precious metals baffles my mind.
ReplyDeleteThats like saying my silver is worth 600 rolls of toilet paper.
There still has to be something that silver can reference against, at least until the fiat itself becomes worthless as in Zimbabwe. We're still a distance from that, but with Helicopter Ben in charge, I don't see how we can avoid a currency collapse. Personally, I see five digit gold and four digit silver before the bull peaks. Do you see the idiots in D.C. changing their ways anytime soon? They keep digging deeper and the pain will be that much greater.
ReplyDeleteIt's irrelevant putting a dollar price on where Gold and Silver will go if the currency you are valuing it to is pretty much worthless. The Paradigm shift will be handing over a Silver Coin to pay for your months rent or groceries.
ReplyDeleteYou can now. You just have to convert it to fiat first. The paradigm shift you speak of is eliminating the middle man
ReplyDeleteThose numbers sound low to me...
ReplyDelete