Gold has long been considered a stable means of storing wealth, and the gold price often scores its biggest gains during turbulent times as market participants rush into this well-known safe haven investment.
Unarguably, the 21st century has so far been heavily marked by substantial episodes of economic and sociopolitical turbulence. These uncertain times have pushed the gold price to record highs as investors seek the perceived security of the precious metal. And each time the gold price rises, there are bound to be calls for even higher record-breaking gold prices.
Gold market gurus from Rob McEwen to Frank Holmes to David Smith have shared eye-popping predictions on the gold price that would make any market participant salivate gold bug or not.
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Rick Rule expects a gold price recovery sooner rather than later, and believes there is just one key factor holding uranium back.
The gold price remains well off last summer’s all-time high, but for veteran investor and speculator Rick Rule, the current malaise in the space is an opportunity, not a cause for dismay.
He previously thought gold and gold equities had gotten ahead of themselves, and he views the current levels as a sale but not necessarily a sale that will last for very long.
“I think now that a recovery in the gold price occurs sooner rather than later,” he told the Investing News Network (INN). “I’m always fond of saying that I like things that are inevitable, but might not be imminent I’m beginning to think that an upward move in the gold price is imminent too as a consequence of the expansion of the negative margin on the US 10 year Treasury.”
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