Making The Case For $12,000 Gold And $360 Silver
By GCRU Gold News on Monday, July 4 2016, 03:54 - Permalink
Many precious metals analysts including Jim Rickards and Jim Sinclair, believe we are going to see a gold price north of $10,000. They base their forecast on backing all the outstanding U.S. dollars by a certain percentage of gold. The higher the percentage of gold backing, the higher the gold price. However, $10,000 gold seems to be a base price when faith in the U.S. Dollar goes down the toilet.
So, the $12,000 gold price figure shown above is not all that crazy. Furthermore, a $360 silver price when gold is $12,000 is a 33/1 Gold-Silver Ratio. We already experienced a gold-silver ratio of 31/1 in April 2011. Gold was trading at $1,500 when silver was trading at $48. Which means a 33/1 gold-silver ratio at $12,000 gold and $360 silver is really not that insane after all.