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Gold Prices May Hit $10,000

Discussion in 'Gold Silver (All things Metal)' started by Scorpio, Jan 28, 2018.



  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    Gold Prices May Hit $10,000 Thanks to Crashing U.S. Dollar and Rising Inflation

    Gold prices have soared since mid-December. But, one well-known gold expert thinks the big price gains in gold are just getting started.

    ByDaniela Cambone

    Jan 28, 2018 8:02 AM EST

    Is $10,000 Gold What Investors Want? - Jim Rickards

    Gold prices have soared 9% since mid-December on the back of a plunging U.S. dollar and rising concerns over inflation at the hands of tax reform.

    But, the big price gains may just be getting started.

    "This is gold's breakout year," said well-known author and gold expert Jim Rickards in an interview. "We are in the third bull market [in gold] of my lifetime -- and we have a very long way to run." Rickards believes a U.S. war with North Korea, a trade war with china and the possible impeachment of U.S. President Donald Trump if the Democrats regain control of the legislature could send gold prices skyrocketing. Prolonged weakness in the U.S. dollar will be an enabler, too.

    Over the next 40 years or so, Richards thinks gold prices will touch $10,000.

    Rickards adds that gold at $10,000 may imply an increase of prices of other goods and commodities, thus eroding consumer purchasing power.

    "All gold does is it preserves your purchasing power. But, if gold is $5,000, then oil is probably $400, and everything is double or triple, you're not really ahead of the game," Rickards said.


    This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.


    https://www.thestreet.com/story/144...dollar.html?puc=yahoo&cm_ven=YAHOO&yptr=yahoo
     
  2. Merlin

    Merlin Gold Member Gold Chaser Site Supporter ++

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    Which is why I always claimed that my precious metals were insurance, not a get rich quick scheme.
     
  3. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    That narrows it down and puts an exact timeframe on it LOL.
     
    Son of Gloin, SongSungAU and Scorpio like this.
  4. JayDubya

    JayDubya Platinum Bling Platinum Bling

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    Exactly Merlin, just trying to help level the playing field a little bit more in my advantage
     
  5. Ragnarok

    Ragnarok I'd rather be Midas Member

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    “May”?

    R.
     

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