VIDEO — Gareth Soloway: “Beautiful” Gold Price Target, Prospects for Silver

- May 13th, 2021

“You have gold replicating to basically the tee exactly what it did the last time it broke above its high,” said Gareth Soloway of InTheMoneyStocks.com.

After a bumpy start to the year, what price levels may be in store for gold and silver?

Gareth Soloway, chief market strategist at InTheMoneyStocks.com, said the gold price is moving like it did in 2007 and 2008, and he expects to see it rise significantly in the next year or two.

“You have gold replicating to basically the tee exactly what it did the last time it broke above its high. It pushed through, then it pulled back … and then it just started to zoom higher — and that’s what I think will actually happen to gold,” he told the Investing News Network.

 

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He mentioned US$2,860 per ounce as a potential gold price target, and said it’s one of the easiest trades available right now. “You know the government’s going to have to print more money,” Soloway explained. “They have to do it — they have to pay the interest on the debt, there’s no way around it at this point.”

Moving over to silver, he believes the white metal could rise as high as US$40 to US$50 per ounce in the next two years, although right now it’s consolidating.

“Stocks and commodities and currencies do this type of thing where they have a big move and then they need to digest it — kind of like a runner running a marathon. You can’t run back-to-back marathons, you’ve got to take a break, you’ve got to refuel. Then you can go on your merry way,” he said.

Although Soloway is bullish on gold and silver, he noted that it’s tough to find other investment opportunities “because (we’re) in a situation where every asset is inflated.”

That said, one area he’s interested in is China. He explained that right now the chart for the Shanghai Composite Index (SHA:000001) is following a similar pattern to bitcoin before it went on its major run.

“You could be looking at a major bitcoinish-type move on the Shanghai Composite over the next three to five years,” Soloway said, adding that investors interested in this opportunity should look at best-of-breed Chinese stocks listed in the US.

Watch the interview above for more from Soloway on gold, silver and other investment options.

Don’t forget to follow us @INN_Resource for real-time updates! 

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

 

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