Wednesday, August 1, 2012

Tuckwell tips gold to hit $3,000



SALLY PATTEN

The gold price could surge to $US3,000 an ounce as the United States prints money to try to stimulate jobs growth, one of Australia’s most successful financial entrepreneurs ­predicts.

Graham Tuckwell, founder of ETF Securities in the United Kingdom, has an estimated fortune of $775 million and was the wealthiest debutant on the 2012 BRW Rich List.

He said the reluctance of Western governments such as the US to rein in their spending would leave them no choice but to print money and drive down the value of their currencies to repay debt.

“In US dollar terms, the [gold] price could go up substantially,” Mr Tuckwell said. Gold was at $US1,618 an ounce ­yesterday but could reach $US3,000, he added.

Read in full here

1 comment:

  1. 1930 to 2012: 82 years.
    $20 to $3000: 150 times
    In year 2094
    Gold to reach: $450,000 per ounce.
    In year 2176
    Gold to reach: $67,500,000.00 per ounce
    In year 2258
    Gold to reach: $10,125,000,000.00
    In year 2340
    Gold to reach: My calculator doesnt go that high.

    ReplyDelete