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Park Avenue Numismatics
2742 Biscayne Blvd.
Miami, FL 33137
 
Toll Free: 888-419-7136

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Over 30 Years Experience
Park Avenue has over 30 years experience buying and selling Rare Coin and Precious Metals. We have the knowledge and ability to provide our customers with the best products and services.

Customer Reviews

Gold is best investment, price could hit $10,000 in five years-

Tuesday, November 5, 2019

Lassande/Kitco--"The next 30 years is going to see supply and demand fundamentals shift in favor of gold, and prices will push much higher to over $25,000 an ounce by 2049 when using historical average growth rates, this according to Pierre Lassonde, chairman of Franco-Nevada, in a recent webcast, joining Frank Holmes, CEO of U.S. Global Investors. On a shorter time frame, gold prices in the next five years can hit anywhere between $2,500 and $10,000 an ounce, if historical equities to gold ratios are applied to current levels, as historically, the Dow Jones to gold ratio hit one to one during times of peak gold prices. 'Today, we're at 22 to one (Dow to gold ratio). So, I look at the next five years and [the ratio] could be anywhere from two to seven, and I look at the 22 to one, where would the one to one [ratio] be? Well, that's $25,000 to $27,000 today. Where would two to one be? Well, that's $12,500. And were would five to one be? Well, that's $5,000,' he said. Fueling the growth in gold prices is tailwinds from three fundamental game changers, Lassonde said: protracted central bank buying, the emerging popularity of gold ETFs, and a shift of physical demand from the West to the East. Since 1989, the central banks around the world have evolved from net sellers of gold to net buyers in 2018, Lassonde said....'China and India in 1989 were 10% of the overall demand for gold. Look at it today: 53%. Over half the gold today goes to two countries, India and China,' he said. 'I guess you should all know the golden rule, which is that he who has the gold, makes the rules.' Frank Holmes added that both of the primary drivers of physical gold demand, the love trade and the fear trade will be in the yellow metal's favor."

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