Gold Headed To $5,000 On Money Printing

Now before you say that this statement must be from some overly optimistic gold bug newsletter writer, let me assure it is not. In fact, this commet comes from Christopher Wyke at Schroders Asset Management, a firm which manages 148 billion pounds (around $230 billion dollars). From Dow Jones:

Gold is likely to continue rallying and could push toward $5,000 a troy ounce as a slow economic recovery weighs on investor sentiment and drives demand for the yellow metal as an alternative asset, the commodities
product manager for asset management company Schroders said Thursday.

"We are going to have slow growth for a long period to come, and we are also seeing evidence of a big slowdown in China, which I don't believe is in the price yet," Christopher Wyke told the World Gold Investment Congress in London.

He described the $5,000/oz target price as "not a short-term prediction."

"But in the next six months banks are going to embark on an orgy of money printing... And so I think it will get there in due course," Wyke said.

Black Swan Insights

Gold Headed To $5,000 On Money Printing