Gold price to hit $10,000 by 2020-21
US forecaster Bo Polny says gold will rise to $2000 by end of 2014
US forecaster Bo Polny has predicted that the price of an ounce of gold will hit US$2000 by the year end, rising to $10,000 by the end of 2020-21.
Polny found fame by predicting the top for the gold price at $1900 and the bottom at $1180. He is apparently a student of WD Gann, the legendary futures trader who became a self-made millionaire.
Polny reasons that gold is in a 21-year bull cycle, with three 7-year mini-cycles within that. According to Polny we’re entering the third cycle now.
The interview was conducted by Kitco News and can be viewed below.
The writer holds gold ETFs and physical.