Fred Hickey: ‘Long term, conditions are perfect for gold to go to record high’

theMarketNZZ/Interview of Fred Hickey by Christoph Gisiger/5-26-2023

graphic image of group of green flags“Even the central bank of Singapore, which is friendly to the US, bought 70 tons in the first three months. This buying activity from eastern countries has lifted gold to the current level close to $2000 per ounce. And that’s even without the participation of western institutions who have very low positions right now. But it’s those western institutions that will propel gold to new record highs once they come into the market.”

USAGOLD note: Hickey says “gold does best when stocks are going down.” He adds that stocks are being held up by “this FOMO move” in tech stocks but it will eventually end.

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