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Why One Analyst Believes Gold Could Hit $3,000
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
news.goldseek.com / By: Frank E. Holmes / 18 April 2016
After finishing its best quarter in 30 years, gold extended its gains, rising more than 17.2 percent year-to-date to become the best performing asset class among other commodities, U.S. Treasury bonds and major world currencies and equity indices.
We are likely entering a new gold bull market, writes the World Gold Council (WGC). If so, it would be the first time since the previous one concluded in September 2011, when the metal reached its all-time high of $1,900 per ounce. Since 1970, we’ve seen five gold bull markets, each one lasting an average 63 months and returning an average 385 percent, according to the WGC.
Now, as reported on Mining.com, one precious metals analyst predicts gold could rise to $3,000 within the next three years. Speaking at the Dubai Precious Metals Conference this week, Dr. Diego Parrilla, coauthor of the book “The Energy World Is Flat,” stated that “a perfect storm for gold is brewing” as uncertainty over global central bank policies is deepening. We might have reached the limit of what quantitative easing (QE) programs and negative interest rate policies (NIRP) can accomplish.
Three thousand dollars might be an overstatement, but several prominent financial institutions, including HSBC, RBC Capital Markets and Credit Suisse, are currently bullish on the metal.
For the 12-month period as of April 13, our Gold and Precious Metals Fund (USERX) was up 31.96 percent, while the World Precious Minerals Fund (UNWPX) returned 36.34 percent. This puts us ahead of the funds’ two benchmarks, the FTSE Gold Mines Index and NYSE Gold Miners Index.
I’m also pleased to say that as of March 31, USERX continues to hold its overall four-star rating from Morningstar among 71 Equity Precious Metals funds, based on risk-adjusted returns.
The post Why One Analyst Believes Gold Could Hit $3,000 appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/04/19/why-one-analyst-believes-gold-could-hit-3000/
