Gold and silver prices have been in bearish territory for some time now. 2013 has been a brutal year for the precious metals, but how about 2014? Legendary investors such as Jim Rogers, Marc Faber, Eric Sprott & Tom Fitzpatrick are unanimously bullish for 2014 citing the tight physical market, the looming threat of war with Syria and the continuously rising debt levels. Watch the video below for the predictions.
To start off with our most bullish forecast, Eric Sprott believes that gold will see new all time highs as early as the end of 2013. Eric Sprott is not the only investor giving bullish forecasts for the yellow metal. In a recent interview, Singapore-based billionaire commodities investor Jim Rogers, said that he expects higher prices for gold in the near future. Discussing the ramifications of a war with Syria, Rogers said…
“I own oil, I own gold, I own things like that if there is going to be a war … they’re [going to] go much, much higher.”
“Stocks are [going to] go down … commodities are [going to] go up,” he said.
Also in a recent interview, Marc Faber said “considering how debt levels will continue to increase and how central banks will continue their monetization not only in the U.S. but on a worldwide scale, I assume the price of gold will trend higher.” He said “most likely we’ve seen the lows below $1,200″ and gold will eventually be over its all time high of $1,921.”
Faber said he doesn’t know if that level will be reached this year or in five years. But “I think that part of your assets should be held in physical gold. I emphasize physical gold,” he said.
Major gold bull Citi analyst Tom Fitzpatrick was even more bullish on gold and silver too. In a recent interview with King World News, he said that he “believes we are back into that track where gold is the hard currency of choice, and he expects for this trend to accelerate going forward.”
“We still believe that in the next couple of years, we will be looking at a gold price of around $3,500,” he said in the interview. And as the gold/silver ratio plummets near 30, “this would suggest a silver price above $100.”