The gold price has trended downward so far in 2018, but according to CPM Group’s Jeffrey Christian, the future for the yellow metal remains bright.
Speaking on the sidelines of the recent Denver Gold Forum, he said while he doesn’t expect a sharp rise in the gold price soon, he does see it starting to rise “within the next six months or so.”
He added, “and I do envision radically higher gold prices at some point over the next eight years, simply because I think the economic and political environment will require it.”
When asked what numbers might go along with those predictions, Christian explained, “we wouldn’t be surprised to see the price of gold back in the $1,250, $1,280 range by the end of this year. [And] we would expect it to be in the $1,280 to $1,340 range by late 2019.”
Looking further into the future, he said, “at some point, probably around 2023, 2025, we wouldn’t be surprised to see record gold prices of $1,800, $1,900 — maybe even $2,000 an ounce.”
In terms of how investors may be able to profit from that price movement, Christian said he believes holding the right view of gold can go a long way.
“If you buy gold on a reasonable basis as an investment, not as a true believer who thinks that gold is a secure source of constant purchasing power … if you buy gold as investment — you buy it and you take profits, and then you buy it again and you take profits — you’ll do a lot better,” he said.
Listen to the interview above for more insight from Christian.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in contributed article. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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