Gold and silver traders are more concerned about the state of the world economies and geopolitics than are stock market traders. And there’s an old markets adage that the smartest traders are bond traders. U.S. Treasury bond yields this week have moved to near record lows, on safe-haven demand and a flight to quality.
“I would put [gold at $15,000 an ounce before 2025,” Rickards told Kitco News. “If you just take the average of the prior bull markets: 1971 to 1980, nine years, 2200%, 1999 to 2011, a twelve-year bull market, about 700%. Just take the average, you don’t have to go to the higher of the two or extrapolate, if you just take the average of the two you would say the next bull market is going to be a little over 10 years and it’s going to go up 1500%,” he said.
Gold could hit as high as $3,500 in the next two years – a jump of 80% from current levels – a veteran investor said this week. Barry Dawes, executive chairman at Martin Place Securities. Dawes told CNBC’s “Street Signs Asia” on Tuesday that he sees the metal climbing almost 80% from current levels. “What is really significant is how quickly it went through that $1,923 which was the previous high. The other thing which was … very, very important was the fact that it went through $1,800 and with similar ease… I’m looking for $3,500 within two years.”
Peter Kinsella, global head of FX strategy at Union Bancaire Privee, says “there’s no question that gold is where you want to be” as physical inventory shrinks and central banks continue with quantatative easing measures. He speaks on “Bloomberg Surveillance.”