Gold To Go Over $1000 Says World Gold Council Chairman and Newmont Mining Vice Chairman

Apparently, gold prices are set to rise over $1000/ounce and the commodities bull market still has along way to go.

The Chairman of the World Gold Council and the Vice Chairman of Newmont Mining, Pierre Lassonde, said that gold would have three zeros after the first digit, but he didn’t know what the first number would be.

That mean that we could see gold prices well over $1000/ounce very soon. If this happens, other precious metals such as silver should also soar, with silver possibly going to $20/ounce.

Pierre Lassonde was speaking at the Diggers & Dealers annual mining and investment forum in Kalgoorlie, Australia.

Gold analyst Sam Kirtley of The Gold Prices Newsletter commented on this and said: “We think $1000/ounce is absolutely achievable taking into account the the crumbling US Dollar, falling gold production coupled with increased physical demand and geopolitical instability. We have been predicting $1000 for a long time and we fully believe that gold will not only reach the $1000 level, but significantly surpass it.”

Where do you think gold prices are going?

Is $1000/ounce a realistic target?

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