Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Billionaire Investor Says Gold Could Hit $5,000 (Video)

  by    0   1

Billionaire investor Thomas Kaplan said he sees the possibility of $5,000 gold on the horizon during an interview on the David Rubenstein Show.

Kaplan serves as the chairman and chief investment officer of The Electrum Group,  New York-based investment, advisory and asset management firm focusing on the natural resources sector. He’s also known for his philanthropic work and as the largest private collector of Rembrandt’s artwork.

Kaplan told Rubenstein he sees two possible scenarios for the yellow metal.

In the first, gold has already broken out and, as Jeff Gundlach puts it, “is coiling like a snake for its next move to take on the old highs.”

In the second scenario, gold could take one more head-fake to the downside, “just to shake out the weak hands.”

But then I do believe gold embarks on the next leg of its bull market and goes past $1,900 and ultimately $3,000 to $5,000, if not a lot higher, depending on macro circumstances that today seem dim but I can’t really quantify.”

Rubenstein asked how long he would have to wait to see that price level. Kaplan said he usually measures these kinds of moves in decades.

The first move, the first leg in gold took gold from $250 to $1,900. For 12 consecutive years, gold was up every single year whether there were inflation fears or deflation fears, strong dollar, weak dollar, political stability, political instability. It didn’t matter. Strong oil, weak oil. Didn’t matter. Gold went up for 12 years. That to me is a bull market. We’ve now been in a correction which has taken gold from  $1,900 back to where we are today. You could easily see gold fall a couple of hundred dollars before going up a couple of thousand dollars. But each move has been a decade or more, which means that 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, to the three to five thousand dollar target that I belive is fundamentally justified based on the facts that we have today.”

Kaplan is not the only billionaire investor to project an upcoming gold bull market. Earlier this month, SEC filings showed that Ray Dalio has increased his position in gold. During the Sohn Investment Conference, Jeff Gundlach said, “I love gold. I have owned gold since it was trading at $300.” And David Einhorn, founder of Greenlight Capital told Kitco News, “I hold gold, and I am never going to get rid of it. I hope that I never have to use it.

Download SchiffGold's Gold vs GLD EFT's Guide Today

Get Peter Schiff’s most important Gold headlines once per week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Peter Schiff: The Mainstream Pundits Are the Real Stopped Clocks

Mainstream pundits sometimes accuse Peter Schiff of being a “stopped clock.” They admit he’s right occasionally, but only by virtue of sticking to the same narrative, talking about the malinvestments and misallocations in the economy and warning about an impending crisis. In this clip from his podcast, Peter said it’s the mainstream regulars on financial […]

READ MORE →

Transitory Inflation Turning Into an Inflationary Spiral

Consumer prices have been rising precipitously this year. If you annualize the Consumer Price Index through the first five months of 2021, you get a CPI increase of over 6%. Federal Reserve Chairman Jerome Powell continues to push the narrative that inflation is transitory, but not everybody buys into this storyline. On the Wolf Street […]

READ MORE →

Janet Yellen Thinks a Little Inflation Is a Good Thing

Treasury Secretary Janet Yellen has conceded that we may well get more inflation than originally expected with all of this government stimulus. But she said if we do end up with higher inflation and higher interest rates, it’s a good thing. It will be good for society, and it will be good for the Federal […]

READ MORE →

Peter Schiff: The Government Doesn’t Actually Budget

President Biden has proposed a borrow and spend “to infinity and beyond” budget featuring $6 trillion in government spending. That’s the largest amount of spending ever proposed in a presidential budget. In the following podcast clip, Peter Schiff argues it’s not accurate to call it a “budget.” The federal government has given up on actual […]

READ MORE →

Peter Schiff Gold Videocast: The Lull Before the Storm

Over the last several months, gold and silver have faced strong tailwinds due to market expectations that the Fed would tighten monetary policy sooner rather than later to fight price inflation. But after April’s hotter than expected CPI, that sentiment seems to have shifted and the markets are acting the way you would expect in […]

READ MORE →

Comments are closed.

Call Now