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Analyst Targets $3,000 Gold, $75 Silver
Jason Hamlin, analyst and editor of the financial newsletter GoldStockBull, sees gold and silver rallying to new record highs.
“Precious metals have posted their best quarter in nearly 30 years and mining stocks are soaring from oversold multi-year lows. Those that were willing to buy when everyone else was selling have been handsomely rewarded in 2016. But we believe the gains are just getting started…
“There seems to be no major momentum to the downside, as we’ve become accustomed to over the past several years. Most of the weak hands have been shaken out of the market and primarily strong hands remain. We already know that central banks aren’t selling, as they continue to accumulate gold at a record pace (especially in the East). We also know that investors are not selling, as investment demand has increased sharply (especially for silver). Hedge funds have also been piling into precious metals, chasing value on signals that the bottom is in…
“If gold did indeed bottom around $1,050, this new bull market trend is only getting started. The rally that followed the 2001 low generated returns of around 295% for gold… So, while the 20% move higher toward $1,300 has been exciting, gold would still need to climb to somewhere around $3,000 per ounce ($1,050 bottom x 3) to match the gains that gold experienced after bouncing from its prior bottoms.
“Silver is holding around the $17 level, up 23% so far in 2016. The rally that followed the 2001 low generated returns of around 433% for silver… If you thought the $3,000 price target for gold was exciting, consider the following. If the current bull move in silver matches these previous uplegs, silver would need to climb towards $75 per ounce ($13.60 bottom x 5.5).
“Of course, there are no guarantees that the current bull move from multi-year lows will match those of the past… I estimate that gold has upside potential of around 120% from current levels and downside risk of only around 30%. I project silver’s upside potential at around 440%, with downside risk of 40%. The risk/reward set up is extremely favorable to the long side….” (“Gold Price Target is $3,000 and Silver is $75 per Ounce, GoldStockBull, 4/25/16.)
Gold May Test $2000 In 2017 – CrossBorder Capital
CrossBorderCapital, a London-based independent investment advisory firm, advised investors that gold prices may test the record high of $2,000 per ounce in 2017.
“Money drives markets and most investors would probably agree that the gold price often acts as the vent for excess liquidity. Yet the actual track record between strong money supply growth and a higher gold price is erratic at best. Our research shows that a better understanding of this relationship requires money to be more carefully defined….
“When private sector liquidity growth exceeds Central Bank balance sheet growth, paper monies tend to rise in value. Equally, when Central Bank money printing exceeds the funding needs of the private sector, then the price of bullion rises. It is the relative size of this gap that matters.
“According to the data, the recent three-year period of gold price weakness during a time of expansionary Central Bank QE policies is explained by the huge increases in private sector liquidity generation associated with the US corporate sector. These flows are now reversing. Looking ahead, the bottom line is that bullion is moving back above its long-term trend because the quality of money in the global economy is deteriorating, and not necessarily because its quantity is going up. This quality dimension is important because it tells us that even in a period of weak credit growth, like now, the gold price can still be strong. Were the orange liquidity series in the chart to rise back to its 2010 peak value, the bullion price should test US$2000/oz. Extrapolating these trends forwards, this may be possible by 2017. The future doesn’t just glister, it roars.” (“Global Liquidity Says Bullion Must Rise,”Kitco, 4/27/16.)
Gold Revaluation Can Change Investor’s Portfolios Overnight – Smith
David Smith, senior analyst for the financial newsletter The Morgan Report, explained how central banks may be forced to revalue their currencies against gold, dramatically changing investor portfolios overnight.
“As the world’s governments come face to face with the prospect of currency collapse, something's going to give. Confidence in (acceptance of) fiat money is literally all that holds things together. Let a run out of a country's paper money get underway – into anything of tangible value – and it's GAME OVER. Even the ability of banks to suspend redemptions from your money market funds – instituted by federal decree last year – will prove to be nothing more than a metaphorical finger in the dike.
“What is to be done? How can the central banks of countries around the globe, as they slip into a synchronized recession (or worse), dig themselves out of the approaching monetary-debt abyss without going through a systemic collapse first? …
“That "answer" is born and nurtured through centuries of history in the crucible of economic need: There will be a revaluation in the price of the most powerful, effective, and durable store of value humankind has ever utilized – gold… Gold revaluation (not monetization – where gold is redeemable in exchange for paper script as a monetary medium), would be instituted by central banks – perhaps first by the U.S. Federal Reserve, with others in tow...
“You may think that if a gold revaluation happens, you will be able to quickly go to the local coin shop and pick up a handful as soon as the possibility of a gold price rocket launch becomes obvious. But think again. Most likely announced on a Sunday evening, by Monday morning the precious metals supply would be gone. And mining stock share prices would go through the roof… In summary, continue to buy and hold physical gold (and silver) as insurance first…and for possible profit generation second. But now you have a third compelling reason: if gold revaluation does come to pass, those who have it will also have a personal financial game-changer of the first order!” (“A Gold Revaluation Could Transform Your Financial Status…Overnight,” Gold-Eagle, 5/27/16.)