Quote on gold price

Posted | 28/04/2014 / Views | 2058
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“Right now, the fall in the price of gold over the last couple years has upset the historical trend dramatically. Based on the historical overlay, right now gold should trade between about $1,550 and $1,700 an ounce. And based on where the U.S. debt load is headed under a current political leadership that couldn't effectively manage a weekly allowance, gold will easily crack $2,500.

 

And if, as expected, the debt ceiling pushes up toward $22 trillion by 2016, gold could push toward $3,500. To me, that's a huge buying opportunity for investors with a longer-term view and a fundamental belief that gold is the anti-dollar.”

 

Jeff D. Opdyke

Executive Editor, The Sovereign Investor