Stephen Leeb – We Will Add Another Digit to Gold Price Soon

With gold and silver surging today, King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. When asked what he sees happening, Leeb responded, “We don’t need gold for any kind of industrial use, gold is a currency. Gold’s move this decade has been an anticipation of inflation. Once we get inflation you really have to look at the 1970’s as to how far gold could go. I mean no matter how you look at it, Eric, you are going to have to add another digit to the gold quote.”

Stephen Leeb continues:

“Sometime in the next five or six years I really think you are going to add another digit to the gold price. $10,000, $12,000, it’s too easy to make the case. The case against (gold above $10,000) is that we go into a depression and I think there is no chance policymakers will let that happen.”

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via My Blog.

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