By E.B. Tucker, editor, Strategic Trader
I sat down for half a dozen media interviews this year where I called for $1,500 per ounce of gold in 2019.
In several cases, the hosts nagged me about my prediction, asking if I would stick with it. I did. Last month, it hit my target.
What I’m telling you today and what I told those same media outlets last week is $1,500 is only the beginning for gold.
Because I expect gold to take out its previous high of $1,900.
In fact, as I told Kitco News last week, from there I see it hitting $2,200 – about a 50% rise from its current price of $1,508 per ounce.
The question reporters ask is, “When?”
“When” doesn’t matter to me. I’ll explain why.
All of the serious money I’ve made investing came through positioning for a big move and sitting tight. Trading is tough. In and out all the time can work over a short period. But the big gains come from sitting tight.
After hitting an all-time high in 2011, the price of gold fell 45% to a low of $1,052 in late 2015.