Who Says Gold’s Going Higher?
Interviewed on Kitco 10 days ago News Canadian Billionaire Frank Jewstra, chairman of Leagold.
Says we are in the 3rd phase of a bull market. QE in Europe then US, then currency wars.
“YOU WOULD BE RECKLESS TO NOT OWN GOLD” “IT’S INSURANCE, IF YOU DON’T HAVE SOME INSURANCE IN YOUR PORTFOLIO, YOU’RE CRAZY”.
He owns physical and recommends physical.
It’s going to do very well… Interest rates are low and headed lower. Negative yield is going to continue. More countries will join the negative yield curve club. As interest rates go down gold will go up. The current rally has taken place with a firm US Dollar. It’s going up in every currency. How high can it surge? They mention $3,000 is more than a possibility. We are not even at a cycle high yet.
Gold prices may rally to a record above $2,000 an ounce in the next two years, according to Citigroup Inc., which gave a laundry list of positive drivers including rising risks of a global recession and the likelihood that the Federal Reserve will reduce U.S. interest rates to zero.
“We expect spot gold prices to trade stronger for longer, possibly breaching $2,000 an ounce and posting new cyclical highs at some point in the next year or two,” analysts including Aakash Doshi said in a note received Sept. 10. That would exceed the record of $1,921.17 set in 2011.