Billionaire hedge fund guy forecasts gold towards US$5000

John Paulson is billionaire hedge fund manager who leads his own firm, Paulson & Co. He likes gold a lot higher:

• near $5,000 an ounce by 2028 … the “high $4,000 range”

Paulson says that estimate was put to him, adding that “It’s a well-informed prediction. I think that’s a reasonable number”.

Citing:

• “As central banks and people look to put their money in a more stable source… I think gold will increase its position in the world,”
• “When the war started, (Russia) kept their physical gold, that was safe, but all their cash – the paper reserves – were confiscated,” Paulson said.

  “So that caused other central banks to wake up and say … ‘What happens if there’s a conflict with the U.S.? Could the U.S. keep our treasuries, and all our savings would disappear?'”

• global trade uncertainty, fueled in part by Washington’s tariffs, as further underpinning gold.

  “The best place to go if your faith in the (U.S.) dollar diminishes is gold as a reserve currency,”

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I compressed the price scale to give a pic of how gold has fareed (this is a weekly candle chart) and to put 5K in the picture:

What y’all think? Comments welcome!

This article was written by Eamonn Sheridan at www.forexlive.com.