In this wide-ranging interview, Dennin talks about gold’s trajectory, his expectations for the next bubble and the future of uranium.
Speaking with the Investing News Network at Mines and Money London, Professor Dr. Torsten Dennin said that despite a lackluster few years in precious metals, prices could rocket later on.
“(The) last three to four years have been pretty boring on the gold side I have to confess, as it has been in the commodity sphere in general. But lots of analysts pointed out that this year we’ve seen some technical breakthroughs in the gold price. It was rather useful to have the gold price headed up above US$1,400 (per ounce), targeting US$1,500.
“We could see — probably not next year, but in the next couple of years — prices between US$2,000 to US$2,200 in regard to the economic situation,” said Dennin.
Dennin is head of Asset Management Switzerland and a professor of economics and finance. He also moonlights as an author, so he keeps busy writing books such as “From Tulips to Bitcoins: A History of Fortunes Made and Lost in Commodity Markets.”
From the sidelines of the show, Dennin talked about the lessons that can be learned from history. Long story short: “Readers can digest the history, and if the old saying is right, history is not repeating itself, but definitely it rhymes, so we can spot bubbles.”
When asked where the next bubble may be, Dennin commented, “Definitely not in the commodity space. When you’re looking at gold prices, copper prices and crude prices, when you put all the commodities together, relative to equity they are on a super low level.”
He also talked about the role of gold and cryptocurrencies as “safe haven assets” for different generations, and gave his thoughts on the uranium space.
Dennin said that given the need for an increase in energy production globally, uranium has a part to play, though there is no need for an immediate rush into uranium as it’s still a contrarian commodity.
Listen to the full interview with Dennin above. You can also click here for our full YouTube playlist from Mines and Money London.
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Securities Disclosure: I, Scott Tibballs, 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.