VIDEO - EB Tucker: When Gold Hits US$1,900 Everyone Will Wake Up
After calling gold’s rise to US$1,500 last year, EB Tucker sees the yellow metal taking out its old high in 2020.
Gold’s recent price activity has attracted some attention, but according to EB Tucker it’s the US$1,900 per ounce mark that will bring the metal widespread recognition.
“US$1,900 wakes everyone up and then they say, ‘Wait a minute, gold is actually rising in this climate. Everything else is in trouble, so we need to own some gold — what do we do?'” he said at the Prospectors & Developers Association of Canada (PDAC) convention.
“How did we know (US$1,500 was coming)? We saw where we were in the longer-term trend,” he said.
“This is an emerging trend that’s going to develop over a couple of years. I think the 2020s — this decade — people that are invested in this business right now … are going to make more money than any other asset class in the market.”
Tucker sees potential in gold in general and royalty and streaming companies specifically.
“The royalty business is the most lucrative business I’ve ever been involved in,” he explained. “It’s the most lucrative legal business I’ve ever even heard of.”
While it’s impossible to know what will set off gold’s rise from its current sub-US$1,700 level to US$1,900, Tucker cautioned investors about putting too much stock in “noise” like the US/China trade war, tensions between the US and Iran seen earlier this year and now the COVID-19 coronavirus.
“We don’t know because if you look back at all these big moves, it’s always been an unexpected trigger,” he said. “You don’t know what the trigger is.”
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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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