Gold price to hit $10,000 by 2020-21

US forecaster Bo Polny says gold will rise to $2000 by end of 2014

Gold price to hit $10,000 by 2020-21

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.

Categories: News

About Author

Christopher Menon

Every Investor Editor Chris Menon is a financial journalist who has written regularly for national newspapers, magazines and websites about personal finance, with particular emphasis on investing.

  • MichaelGlenn1

    Gold is now a real-time currency denominated by weight where weight is now the unit of account. We can thank gold’s increased monetary liquidity as a currency to the severing of the FIXED peg back in 1971 at the close of BW. If you were caught by the sleight of hand by the FED, in regards to all eyes being on the dollar, you may have missed what it meant for gold.  Gold’s liquidity (weight x trade value) is only predicated on weight, alone, when the trade value is fixed, as it has been in the past. The tra
    de value had to be set free from the measure. Real-time gold-as-currency is a new relationship between the measure (USD/oz) and the weight (bullion).

    You cannot pour new wine into old wineskins.