Tucker, who anticipated gold’s move to US$1,500, sees the metal taking out its old high in 2020. But for now, he’s focused on silver.
EB Tucker started calling for gold to hit US$1,500 per ounce at the end of 2018, and last month his prediction for the yellow metal came true.
Speaking at the Denver Gold Forum, Tucker, a director at Metalla Royalty & Streaming (TSXV:MTA,OTCQX:MTAFF), shared an updated forecast for the yellow metal.
“Here’s the prediction: next year we think gold takes out its old high,” he said.
“That’s when it wakes people up,” he continued. “Right now, no one’s paying attention at US$1,500, which means that once it consolidates it can march higher. No one will care, no one will know how to trade it, there’s no experts on gold — you go to the big banks … there’s not that many people covering gold, there’s not a lot of information out there.”
According to Tucker, that means now is the time for investors to get set up in gold. “For us in the gold community, now is the time to position. Because you don’t want to then be involved with all these people that have no experience in the gold market.”
He also offered a shorter-term prediction, saying that ahead of the upcoming gold move he’s looking for silver to pass the US$20 per ounce mark.
“In our view, gold’s going to stabilize here at US$1,500, (and) silver will go from US$18 to US$20. And so we are focusing a lot of our capital and resources on silver, because that to us is the easiest trade right now. And I would be shocked if that doesn’t happen before American Thanksgiving, which is only about eight weeks away,” said Tucker, who also runs two publications at Casey Research.
He explained that while he does see the white metal eventually rising to US$25, it’s important not to miss its increase to US$20. “I think in the short run if you miss that move in silver you’re missing a very easy way to make money,” he said.
“This is the Babe Ruth style of investing. Babe Ruth was overweight, he ate all the time, he drank heavily and he barely worked — and he was the home run king. So what did he do right? He swung at the easy pitches. So that’s what you want to do.”
Listen to the interview above for more from Tucker, including how best to invest in gold and silver right now. Our full playlist for the Denver Gold Forum can be found on YouTube.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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