The rational case for $7000 gold by 2030

The Alchemist/Charlie Morris

“It surprises many professional investors that gold has been the leading major asset class in the 21st century. It has beaten the US treasuries, US equities, developed market equities and emerging markets, even after accounting for dividends. $100 invested at the turn of the century has turned into $591.”

USAGOLD note:  Charlie Morris makes a case similar to the one we made several months ago under the banner Gold’s Century – While stocks dominated headlines gold quietly performedMorris concentrates on addressing the question “Why” and offers an appealing forecast while the USAGOLD report told “How” and concentrated on gold’s performance since the turn of the new century featuring the chart posted below.

bar chart showing gold annual returns through 5-22-2020

“For twelve consecutive years, gold was up every single year whether there were inflation fears, deflation fears; strong dollar, weak dollar; political stability, political instability. It didn’t matter – strong oil, weak oil. . . Gold went up for twelve years. . . When gold embarks upon its next move, I believe that you will see that long wave take gold relatively quickly, but it will be measured in years, up to a $3000 to $5000 target that I believe is fundamentally justified based on the facts we have today.” –– Thomas Kaplan, Electrum Group (Bloomberg’s Peer to Peer Conversations with David Rubinstein)

Repost from 6-1-2020

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