Newmont Corporation NEM

Gold to hit $3,000

[mrleao]

Gold to hit $3,000

Among the bank’s calls for next year, Saxo Head of Commodity Strategy Ole Hansen predicted the price of spot gold could exceed $3,000 per ounce in 2023 – around 67% higher than its current price of about $1,797 per ounce.

The report puts its forecasted surge down to three factors: “an increasing war economy mentality” that makes gold more appealing than foreign reserves, a big investment in new national security priorities, and increasing global liquidity as policymakers try to avoid debt debacles in their respective recessions.

“I would not be surprised to see commodity driven economies wanting to go to gold because of a lack of better alternatives,” Steen Jakobsen, chief investment officer at Saxo, told CNBC’s “Squawk Box Europe” on Dec. 6.

“I think gold is going to fly,” he added.

[tarnoir]

Blah blah blah. They are always spouting off calls for $3000 gold. They and many others have been for years. We can't even get to $2000 and are barely holding $1900. Sensationalism IMO to get you to read their sheet. And, if gold did go to $3000, that's likely terrible news for the rest of the economy and world at large. We should probably be afraid of gold going that high.