As we head into the final two trading months of 2020, a legend in the business Sean Boyd just said the price of gold is headed to $3,000.
Legend Sean Boyd, CEO of Agnico Eagle, just predicted the price of gold would surge to $3,000.
October 31 (King World News) – Eric King: “What do you expect to see with the gold price going forward and how investors will become more attracted to the sector? Because as a bull market matures sometimes people will say, ‘Oh no, gold is in the mainstream media, it must be topping and it’s going to crater.’ But that’s not really true. In order to have a big bull market, you have to have a lot more participants get involved. It’s is going to be in the mainstream media and it’s still going to be headed higher. So talk about what you expect to see going forward in terms of the big picture.”
Europe Calling About Gold
Sean Boyd, Vice Chairman & CEO of Agnico Eagle: “As we see gold mentioned a bit more, it’s still not, in my view, front page news. There’s still a long way to go before it becomes front page news. It’s still vastly under-owned. And these things go in a follow up pattern. And we started to see that pattern develop about 3 years ago. We were very clear and we communicated what we were seeing in the market, where in Europe we would get large pension funds calling us up and ask, ‘When you are in our city would you mind dropping by? We’ve never talked to you guys before.’ And we would hang up the phone and say, ‘Oh, that’s interesting. Why are these guys calling? This is smart, conservative, big pension fund money.’ The interesting this is they wanted to talk to a gold company.
The Road To $2,000 Gold
So we started to see more and more of that. And it made sense that it started in Europe because they kind of get why gold is important vs a North American investor who ultimately believes in the supremacy of the US dollar, the US economy and the US stock market. As a result, they don’t think gold is much use. But now it’s starting to feed into the North American market, whereas the Europeans tend to be a few years ahead. So I think we are following a pattern where investment interest isn’t rampant, it’s just gradually growing. And that’s a positive way to see things unfold.
So on the back of what we were seeing, and we get more meetings I would say than most gold companies with respect to generalist investors just based on our track record, the experience and the longevity of most of us being around, we were starting to call the gold price going higher. We were clear that gold was going to $2,000, and we said that when gold was $1,050-$1,200.
And it was just based on this gradual increase in interest we were seeing. But from an interest level, we are just getting started. I mean you here about it once in a while and it’s done okay at $1,900.
Gold Is Now Headed To $3,000
But we said at $2,000 the world doesn’t have to end. For gold to hit $2,500-$3,000 we don’t have to have the world ending. But if you would have said that 15 years ago people would think the world would have ended and the financial system would be broken. We can get to $3,000 with this continued uncertainty and volatility. But the real game-changer is…to continue listening to Agnico Eagle CEO Sean Boyd discuss the big game-changer in the gold market in his greatest interview ever CLICK HERE OR ON THE IMAGE BELOW.
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