Rich Checkan: US$3,800 Gold a Minimum This Cycle, US$90 Silver “Very Doable”

Rich Checkan, president and COO of Asset Strategies International, explained to the Investing News Network why the gold price fell after the US election, as well as why he thinks the bull market is nowhere near over.

He sees the yellow metal reaching US$3,800 to US$5,700 per ounce during this cycle.

“Post-election we had a selloff, which I think was wonderful and needed and healthy,” he said. "These are buying opportunities, not the end of the bull market — not even close. None of the factors suggesting that are firing right now."

Looking at silver, Checkan said the charts show a 45 year cup-and-handle formation, which is highly bullish.

"We've now broken out of that long cup and handle. I'm not a technician, (but) friends who are suggest that given the boundaries of that cup and handle we're looking at about US$90 (per ounce) for silver," he said.

“I think that is very doable, but it’s probably going to be mostly late stage."

Watch the interview above for more from Checkan on gold and silver. You can also click here to view the Investing News Network's New Orleans Investment Conference playlist on YouTube.

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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.