Strategist Predicts Gold Price Could Reach $40,000 per Ounce

Egon von Greyerz, founder of Matterhorn Asset Management AG and Gold Switzerland, predicts significant potential increases in gold prices based on historical data and current economic conditions. 

In a recent article, von Greyerz suggests that if gold were to return to its historical average relative to U.S. treasuries, it could reach around $16,000 per ounce, signifying a sixfold increase. He also explores the possibility of gold reaching over $40,000 per ounce. 

Akin to levels observed in 1979-80, when gold represented 140% of U.S. treasuries. Von Greyerz emphasizes gold’s role as a hedge against economic instability, suggesting it as a crucial component of wealth preservation strategies amidst global uncertainties.

Clever Robot News Desk 9^th July 2024