Gold could double from its current price and silver could hit triple digits — but they may not go straight there.
Gold has rocketed higher this week, drawing ever closer to its previous all-time high and sparking excitement in market participants who have been eagerly waiting for it to breach that level.
Lobo Tiggre, founder and editor of Independent Speculator, is optimistic and wouldn’t be surprised to see the gold price double in the future. But he also offered words of caution.
“We should expect great volatility,” he said, adding that this is even more so the case for silver, which has also seen strong upward momentum this week.
“I think silver is more vulnerable to correction than gold, just because it’s increasing 5 percent per day, or 7 percent this week. That’s fantastic, but it doesn’t mean it has to keep going,” Tiggre added.
Despite those warnings, he emphasized that he’s bullish on both gold and silver due to an array of familiar factors. “In terms of what’s going on, everybody’s got their favorite answers. I’m of the camp that really this is all about the money printing. The easy money, the Fed’s uber-unprecedented actions making the previously unprecedented actions look small by comparison,” he explained.
“It’s really the money printing, the easy money, the negative interest rates — that takes away that whole argument that gold doesn’t pay interest. Well, you know what? Not paying interest is a whole lot better than paying negative interest,” he quipped.
In terms of what’s next for gold, Tiggre said it’s in a stronger place than it was the last time it was in this price range. “I would not be surprised to see gold eventually double from here and silver go to triple digits and maybe more, who knows,” he said. “But that doesn’t mean it has to go straight there.”
Watch the interview above for more from Tiggre on gold and silver, plus his thoughts on what commodities might suit investors who think the precious metals space has gotten too hot.
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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.