Gold $10,000 Coming – “Time To Prepare Is Now”
by Mark O’Byrne, Gold Core:
James Rickards: Long-Term Forecast For $10,000 Gold
James Rickards, geopolitical and monetary expert and best selling author of the ‘The New Case for Gold’ has written an interesting piece for the Daily Reckoning on why he believes gold will reach $10,000 in the long term.
Gold in USD Adjusted for Inflation 1970-2017 – Macrotrends.net
He warns of the many systemic and geopolitical risks including the EU elections, from nuclear North Korea, tensions with Iran and “rapidly rising tensions between the U.S. and increasingly powerful China in the South China Sea.”
James Rickards believes that the EU elections “could potentially bring the future of the European Union into grave doubt” and that the “bottom line” is that “there are plenty of potential geopolitical shocks that could threaten the current system, in addition to existing concerns about a stock market collapse or debt crisis.”
“The time to prepare is now” advises Rickards.
From the Daily Reckoning:
I believe the Fed is preparing to raise into weakness and will have to reverse course in April or May. What happens to gold then? It’s going to go higher again, because the Fed will cheapen the dollar, and that’s very bullish for gold. So I expect gold to take off in the spring and finish the year very strongly. It could challenge $1,300 or $1,400.
Now, as many of my readers know, my long-term forecast is for $10,000 gold. We’re obviously not there now. So how do I arrive at $10,000?
I want to give the basis for that forecast. I never give any forecast without giving the analysis behind it. Anybody can pull a prediction out if a hat. If you don’t have the analysis to back it up I’m not interested.
