Loading ...The price of gold is headed for a new high, and when it does, money will flow to companies, predicts mining mogul and philanthropist Frank Giustra, chairman of Leagold Mining Corp. (TSX:LMC).
“This is going to be an explosive gold market,” he told Kitco News in an interview earlier this month.
“The world is in uncharted waters right now. We’re living in a world with a global debt bubble, and any time you get debt bubbles of this magnitude that are global, that are fuelled by speculation, something’s going to happen.”
That something, he forecasts, is the price of gold hitting $1,900 per ounce – an approximate 27% increase above the spot price for gold midday on September 11.
The prediction comes with a caveat: the potential for gold prices to boom comes in the context of a forecasted global economic bust.
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