Gold prices have seen a positive correlation to the expansion of the Federal Reserve’s assets, and as the Fed embarks on the largest stimulus program in its history, the yellow metal is set to rally in the same fashion as in the aftermath of the last recession, said Frank Holmes, CEO of U.S. Global Investors.
First published by Share Talk in late June, the prediction still stands and the markets look to be backing up the claim?
“In the next three years, if we look back, if [history] repeats itself, from 2008, 2009 to 2011, that three-year run saw gold go from a $750 – $800 range up to $1,900. If we forecast that because we have the same expansion of the balance sheet of the Fed then it would project, if cycles are exactly the same, gold could go to $4,000,” Holmes said.
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