On the heels of the recent volatility in the gold and silver markets, today legend Pierre Lassonde spoke with King World News about what to expect for 2020.
Legend Pierre Lassonde says the trend for gold will be up all year, despite volatility.
January 9 (King World News) – Eric King: “The war premium came out of gold quickly. Great call, Pierre.”
Pierre Lassonde: “This is much better for the industry anyway. We need more consolidation and for that to happen, a stable price environment, otherwise you can’t figure out values.”
Eric King: “Commercials are all time record short gold.
Eric King continues: “Hedging, yes, but not all of it. What do you think? Banks taking the other side of the trade?”
Pierre Lassonde: “Banks would never go naked. They lay-off the risks somewhere else. Commercials can short gold bullion and hedge with stocks. I wouldn’t make too much of it.”
Eric King: “Thanks, Pierre. Love the trading action, although a move to the $1,515-$1,530 area would not surprise me. Then stabilization.”
Despite Volatility, Gold Market To Trend Higher All Year
Pierre Lassonde: “I think that we will see a lot of volatility in the gold price this year but the overall market will be up.”
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.
Gold May Hit $2,100 This year
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One of Gerald Celente’s greatest audio interviews ever has been released and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.