Gold $3000-$5000 ?13 Aug 2021 22:38
Asset bubbles may now be too big to burst, creating a situation that Central Banks around the world might be unable to control. If it all comes crashing down, we think there’s only one place to be …
Gold.
The precious metal could rise as high as $3,000 to $5,000 per ounce in the next 3-5 years.
That’s according to the same fund manager who predicted the 2016 gold rally.
As cited by Bloomberg, Diego Parrilla, manager of the $250-million Quadriga Igneo fund that called the last gold rally, massive long-term damage has been caused by wildly loose monetary and fiscal policies, and everyone is underestimating the huge risk as central banks unwind stimulus, with assets soaring amid artificially low interest rates.
“Central bank money printing isn’t really solving problems, it’s delaying the problem," Parrilla told Bloomberg. “Gold will benefit purely from being a physical asset that you cannot print."
But the rally may start even sooner …