Wednesday, September 4, 2013

Gold Could be $5000 to $10000

I'm only looking at 1 year in this conversation, but 4 years from now you could be somewhere in the $5,000 to $10,000 range with the amount of printing and debasement that’s going on.
And of course this financial situation that all of these governments find themselves in -- they are essentially broke. And if governments are broke, then you don’t want to have your money in a bank. So you've got to put it in gold. You could imagine where you get this tidal wave of interest in gold, which we already have by the way -- certainly in China and India. I can (also) sense that there are a lot of people refocusing on gold and silver today, which is manifesting itself in the prices. 

So it’s not too hard to imagine there could be a situation where there is a great run on gold. I've said many times that I think there is a shortage of gold, and there has been a shortage of gold for a long time. This got particularly acute late last year and early this year, which I think is what caused the raid. Of course it (the raid on gold) totally backfired as demand just sky-rocketed.

- Source, Eric Sprott via King World News: