| Mark O’Byrne, founder at GoldCore, gives IG TV’s Victoria Scholar his outlook for gold and silver prices and why he believes they will surpass their record nominal high prices of 2011 in the coming years.
Gold is overbought and may go lower or higher in the short term, but the many financial, geopolitical and monetary risks in the world are issues which are here to stay. This bodes well for the price of gold and should see gold reach record nominal highs over $1,900 per ounce in the coming years. Silver is undervalued versus gold and most other assets with gold at $1,400 per ounce and silver at a mere $15 per ounce. The gold silver ratio is near record levels over 90:1 at a near record high of 93. In the coming years, silver will likely outperform gold again and should easily surpass the record nominal highs of $50 per ounce seen in 1980 and 2011. There are real risks to the dollar as the world’s reserve currency given the massive U.S. national debt and this and zero percent and negative interest rates are fundamental pillars supporting the gold and silver markets. |
Tags: Daily Market Update,newsletter
