news 3 weeks ago

Gold Prices Could See $25,000 in Future

The Street
Gold's trajectory over the long-term is several thousand dollars higher, with an average target price of $12,500, and it only makes sense when you look at the historical growth of the metal, according to Pierre Lassonde, chairman of Franco-Nevada. "If I use the compounded annual growth rate over 50 years, that's got to give you a pretty good idea of where the gold price is going to go, and if you use that number, you get $12,500 in 30 years' time," Lassonde told Kitco News on the sidelines of the Denver Gold Forum. Lassonde added that applying the annual average growth rate from 1970, the long-term projection would be $25,000. "I think gold is in a good place. The financial demand is being driven by negative interest rates. Should the U.S. treasury 30-year bond yield ever, ever go negative, like in Germany and France, God bless, we're looking at $5,000 gold," he said. On the economy, Lassonde said that a recession in the U.S. next year is unlikely. "I think slower growth, but not a recession yet," he said, and added that trade wars and tariffs will negatively impact global growth. "What you see is the world economy slowing down." Premium Pick: Jim Cramer: The Sobering Dichotomy of the Trade War Is on Display Bull Market Fantasy: LIVE TONIGHT @ 7:15PM ET Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud Catch Up: Today's Top News Videos Below