Gold Is Headed To $5,000 An Ounce – It Is Time To Protect & Grow Your Savings!

Months of COVID-19-related economic shutdown will affect many mining companies’ output for years to come. In the meantime, demand is doubling down as industries build new capabilities that require more metals.

This is why Bank of America Corp. raised its 18-month gold-price target to $3,000 an ounce — more than 50% above the existing price record — in a report titled “The Fed can’t print gold.” – source: Bloomberg.

Billionaire Gold Predictions

With that said, billionaires like Thomas Kaplan believe that gold is on the cusp of a new decade long bull market that will push the price well past $5,000 an ounce. Kaplan, chairman, and chief investment officer at Electrum Group, said that because of economic fundamentals gold prices could rally as high as $3,000 to $5,000 within a decade.

He further explained that there are two possible scenarios:

Scenario 1:

Gold has already broken out and, as the American investor Jeff Gundlach puts it, “is coiling like a snake for its next move to take on the old highs.”

Scenario 2:

In the second scenario, gold could take one more head-fake to the downside, “just to shake out the weak hands.”

As a result, Kaplan believes gold embarks on the next leg of its bull market and goes past $1,900 (which it did last spring and now steadily lingers around $1,880) and ultimately $3,000 to $5,000, if not a lot higher, depending on macro circumstances that today seem dim but he cannot really quantify.

Kaplan made his billions by looking at things long term and gold investing is no exception.

The first leg in gold’s run took gold from $250 to $1,900. And for 12 consecutive years, gold was up every single year whether there were inflation fears or deflation fears, a strong dollar, a weak dollar, political stability, political instability. It did not matter.

But each move has been a decade or more. For this reason, Kaplan did not become a billionaire by slacking around or looking at things short term.

Even if already retired, there is a good idea to invest in gold now to protect your existing savings due to the financial insurance and protection gold offers. Gold has always been a safe haven and a hedge against market instability.

On a final note, we want to tell you that it is time to make a move and protect your investment.

Follow the money, and billionaires have a lot of it!
 

 

Invest Safe With A Gold IRA

The only secure financial asset that has stood the grueling test of time is gold. A gold or precious metals IRA permits individuals to diversify any portion of their retirement portfolio — including pre-existing IRAs and former 401k(s) with previous employers — by actually owning physical gold and other metals within that retirement plan.

As a consequence, investors can securely possess physical precious metals in a tax-deferred account.

If you want to know more about how to roll over or transfer your retirement account to IRA-approved gold and silver coins, you can request a free gold IRA guide here.