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Gold prices should skyrocket to much higher levels, even $20,000 in two to five years’ time, as gold reaches a price level close to the level of the Dow Jones Industrial Index, this according to Pierre Lassonde, chairman of Franco Nevada.
“When I look at where we are today, the money creation will take time to [money] into people’s hands. I look at supply chain disruption, I think we’re looking at a two to five year period and I do believe that we will see, if not one to one [in the Dow/gold ratio], then very close to one to one,” Lassonde told Kitco News.
Gold prices have historically seen periods when the levels are close to, if not equal to, the Dow index.
“I just don’t know if the Dow will still be 23,000 or if it will still be $16,000, and even if [the ratio] is two to one, all I’m trying to point out is that the gold price will be materially higher than what it is today,” he said.
Lassonde noted that gold is still in the relatively early stages of a bull market that, especially gold mining stocks.
“The equities have such a long, long way to go to catch up, they’re going to be multiples of where they are today,” he said.
By Kitco News
