We were in the Gold business since 1985, until we recently retired, so we’ve seen lots of Gold forecasts. The wildest I recall was a friend who said we’d see Gold go up $100 in ONE DAY. At the time Gold was around $300 an ounce. He seemed a bit looney, but I respected his opinion. Low and behold a few years later his forecast came true!!!
Since then, I’m more open to listening to what others have to say.
When I came across “56 Gold Forecasts” compiled By Lorimer Wilson, editor of munKNEE.com I thought this list was worth linking to and repeating a quick summary here in the Austin Report.
With Gold trading about $1,900 an ounce in September 2020, here are those forecasts.
- Top-end Gold price forecast was $20,000.
- Next highest forecast was $10,000.
- Lots of the 56 forecasts felt $3,000 Gold price assured.
- One nut Forecast $87,000 Gold which I will completely ignore.
There are lots of experts on list of 56 that I know well and always appreciate their opinions. Keep in mind most forecasts you see on precious metals are written by people who sell Gold and Silver and have a vested interest in presenting the most optimistic opinions in a hot market.
New Gold Buyers Are Still Jumping on Gold
I am not directly or indirectly in the Gold business. I’m tired and retired. But from what I hear, this year has been a wild one for both Gold prices and Silver prices. This week, I hear the phones are still ringing off the walls with new people who have never owned any Gold or Silver.
Newbies, look over the numbers, graphs, and forecasts before you jump in. Like most people, you’ll probably have questions and want to find an honest dealer to talk to. I continue to recommend Austin Rare Coins, the company I founded. They’re 30 years old with a perfect BBB rating of A+. You’ll never have problems buying from them
Questions? Call Austin Rare Coins at 1-800-924-6468.
A Third Party Gold Forecast
How about my Gold forecast? At the risk of ruining my stellar past forecasting record, here we go.
- A second wave of COVID this fall will shock investors.
Covid 19 will continue to suppress the world economy.
- We will have some kind of vaccine in early 2021.
- If the vaccine is 50-60% effective, I’d be surprised.
- The Covid crisis will continue.
- Stock values will fluctuate wildly.
- The election will inject massive uncertainty in financial markets.
- When investors panic for the Stock exits, Gold will have no limits.
- Otherwise, Gold will end the year topping $2,500.
- Silver at $28 today may exceed $50 in the next 12 months.
Like everything else in this article, forecasts are just opinions. Consider them and a variety of other opinions before you decide if precious metals are right for you. Whatever you do in the coming year, do not put all your eggs in one basket… Stay diversified.
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