Gold could hit $20k if inflationary pressure remains, Weber Global’s president says
New York (Aug 25) Speaking to Kitco News, president of Weber Global Management, Briton Hill, discussed gold’s ability to hit new all-time highs.
Indeed, the corporate president also shared his thoughts on the housing market in the United States, the factors driving gold to new all-time highs and silver to eventually hit triple digits in value, with Kitco News anchor David Lin.
When asked if he could elaborate on his thesis that gold could reach $20,000 in the next decade or so, the corporate president responded:
“Comparing the price action to the nineteen seventies, we saw gold and silver rise by hundreds of percentage points and if we saw that now you know with gold sitting at about $1,800 an ounce if we rose a thousand percent were talking $8,000 gold, $10,000 gold and that’s just if we have price action that mirrors the seventies.”
Finbold
