Dr. Stephen Leeb – The World May See $20,000-$25,000 Gold Prices
On the heels of the recent pullback in gold and silver, today Dr. Stephen Leeb told King World News that the world may see $20,000-$25,000.
September 14 (King World News) – Dr. Stephen Leeb: “If we assume that this gold-backed SDR is going to be used in trade throughout the world, you have to have a target for gold that’s somewhere around $20,000-$25,000. If you also assume that gold is going to be involved in backing up transactions within countries, and it probably will be involved in backing up transactions within China, which is 20% of the world’s transactions, you are talking about numbers that are fantastic (in the stratosphere).
This Can Happen
Bear in mind that the Dow was only 500 back in 1974. Today it’s above 25,000. This can happen and I think this is what we are looking at. We are in the very early stages of one of the greatest bull markets of all time. And yes, I understand people get shaken up when they see the excitement in gold and they see a junior stock double, etc. All the sudden it pulls back and they say, “I think we are going back to where we were.” I really don’t think…Leeb tells investors what they should not do in the gold market as well as what his target is for gold on this pullback.
Dr. Stephen Leeb: Chairman & Chief Investment Officer of Leeb Capital Management – Dr. Leeb is a registered investment adviser and has been managing big cap growth portfolios since 1999. Over the last decade, his independently-verified performance record has been ranked in the top 5 percent among peers according to Informa’s PSN manager database. Dr. Leeb is a New York Time’s Best Selling author, eight books total on investments and financial trends. His latest book, Red Alert: How China’s Growing Prosperity Threatens the American Way of Life (Business Plus, 2011).
AUTHOR…INVESTMENT ADVISER…MONEY MANAGER
Stephen Leeb is a prolific author, investment adviser, and money manager who has been analyzing financial markets for more than 40 years. He is known for his prescience in connecting the dots among hidden or overlooked trends – macroeconomic, scientific, and geopolitical – and accurately describing the investment implications, often going against the conventional wisdom. He is the author of nine books on investing and geopolitical trends including his most recent book, China’s Rise and the New Age of Gold: How Investors Can Profit from a Changing World (2020, McGraw-Hill Education). He is founder and editor of the award-winning investment letter The Complete Investor, published by Capitol Information Group, a Washington, D.C.-based financial publisher. Stephen is chief investment officer of his own wealth management firm based in New York City.