Harry Dent Defends His Grim Forecast for Gold

Don't expect gold prices to hit $5,000 in your lifetime, said renowned economist Harry Dent. He warned that gold has to fall significantly before it starts a new bull market. “Ultimately, for gold to erase its bubble and get back to its bubble origin would be around $400 and $450,” he said. “Now when gold hits that I will be the first buyer.” While the well-known doomsayer sees more pain for gold bugs in the next few years, he said that in the next commodity peak, around 2030, gold will likely hit $5,000 an ounce. He added that he would look to buy gold as a long-term investment in 2020 – the start of the new commodity cycle. (show less)

Don't expect gold prices to hit $5,000 in your lifetime, said renowned economist Harry Dent. He warned that gold has to fall significantly before it starts a new bull market. “Ultimately, for gold to erase its bubble and get back to its bubble origin would be around $400 and $450,” he said. “Now when gold hits that I will be the first buyer.” While the well-known doomsayer sees more pain for gold bugs in the next few years, he said that in the next commodity peak, ... (read more)

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