QUESTION: Marty, you always criticized the gold bugs for claiming gold rises with inflation. You are the only one who projected $5,000 gold, and you said it would be on geopolitics. I think you also said it could reach $10,000 by 2032. You also said we were headed into a global recession, but it would be stagflation because of shortages. Well, we have silver shortages, but buy prices are $15+ below spot. I just saw you on Russia Today talking about Germany recalling its gold from the United States and explaining the rift between the US and EU and the Indian trade deal how Russia can sell its oil to India, they refine it, and send it to Europe circumventing Trump’s tariffs. Can you shed any light on this crazy world?
Pete
ANSWER: In gold, the next major resistance level is at 7600. Yes, by 2032, that target was $8,350 to $10,000. The crisis in the Euro has not changed. We still see that in 2029. Now, as far as the discount in silver if you try to sell, the dealers are flooded. The refineries are so backed up that it can take 2 to 3 months to get paid. That is the reason for the discount. Plus, a lot of silver is being sold on the market by people who have held it for decades. I was told today that they are not even buying 90% silver coins because they cannot refine anything right now.
The problem with the Euro is the underlying economic crisis, which is the entire reason for instigating war with Russia. This is all becoming chaotic. The EU is turning its back on the US, as is Canada, and of course India. NYSE (U.S.) has a capitalization of $28–30 trillion in market value. All of the European Exchanges (combined) has only a capitalization of $18–20 trillion in market value. With war becoming inevitable in Europe, the capital flows to the dollar will unfold once again as it did for World War I and II. Between now and 2032, this is going to be chaotic period to say the least.
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