On the heels of the price of gold price hitting a new record high as the price of silver continues to surge, today legend Pierre Lassonde spoke with King World News about the recent blastoff in gold and silver as well as where he believes the price of gold is headed from here.
Lassonde is arguably the greatest company builder in the history of the mining sector. He is past president of Newmont Mining, former chairman of the World Gold Council and current chairman of Franco Nevada. Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom with our global readers during this critical period in these markets.
Legend Pierre Lassonde discusses a massive tidal wave of buying in the gold market.
“This Is Really Wild”
July 24 (King World News) – Eric King: “Pierre, this is really wild. We’ve seen some incredible trading in the gold and silver markets. It has been a lot stronger than some people believed it would be. And it’s really left people on their heels, some of the people on the sidelines even in the gold and silver markets that lost their positions early in this gold bull market. Your thoughts on what’s unfolding here.”
A Massive Tidal Wave Of Gold Buying Has Started
Pierre Lassonde: “Well, first of all, thanks for having me, Eric. It’s always a pleasure to join you and your audience. And it’s a great time to talk about what’s happening. I liken it to a tidal wave that started, let’s say, four years ago in the middle of the Pacific. You couldn’t see it, you couldn’t feel it, but January of 2016 was the turn in the gold market. — the low for this decade was in December of 2015.
That tidal wave (of buying) has been building. It’s been coming. And very few people could even notice it because there was total apathy out there (January, 2016) because you couldn’t see it and you couldn’t feel it. And it was only the people very close to the market, and you and I have talked about this over the past two or three years, I have said this is a new bull market, it has started. And now the signs are everywhere that this tidal wave is going to be massive, absolutely massive. We are starting to see people invest in this market that in the past have never been in the gold sector. And we are going to see far more of it over the next 2-5 years. So we are about half way through this bull market and there is a lot more to come.”
Eric King: “Are you saying we are coming up on that 1976 time frame? Because the gold and silver markets got very exciting in 1976-1980. It ended up in a crescendo, in a mania. Is that the time period we are in if you equivalate that to today?”
Pierre Lassonde: “Very much so. And if you think of the bull market between 1976-1980, it bottomed back in 1975 at around $95. And then over the following four and a half years it climbed all the way up to $850, so almost a 10-bagger, almost 10-times higher than the low. And this one here, we bottomed in December, 2015, at around $1,050. And I would not be surprised if we again over the next four years see a number like 9-10 times the low (which would put the price of gold over $10,000). As I said, I think we are half way through this bull market but there is a lot more fire to come…Legend Pierre Lassonde gave an an incredibly powerful interview to King World News discussing where the gold market, gold industry, and mining stocks are headed, and what he had to say will surprise a lot of people around the world. To find out why legend Pierre Lassonde says the upside on gold is unlimited and much more click here or on the image below.
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