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GoldSeek Radio Nugget -- Peter Grandich on the Conditions for Gold $3,000


Peter Grandich from Peter Grandich & Company | Retirement, Business and Estate Planning, a Wall Street veteran, says we could break to all time record highs in the gold and related markets!

- Gold is on the cusp of new highs - a break above $2,100 should light the fuse to send gold to his target of $2,300 next year.

Grandich explains:

...I have talked about, for several months now, that we have formed, I believe, the best long-term bullish chart you can have, and that is a cup and handle formation that goes back almost a dozen years, both in gold and in silver, but even stronger in gold.

And when you get to the handle part, which we've been in now for a few years and very frustrating for people because it's been in a trading range, and everybody's waiting, but 8 out of 10 times, they break to the upside. And being affected, this would now be the 4th time that we are heading up to this level. If there is indeed a break upwards, the screaming amount of momentum traders will come in. This is how, what you talked about, the $2800 to $3000, that's how that number can be hit here. Because once you're into a new area [gold price] it hasn't been before, again there's not really key resistance areas, so you can have that parabolic rise. 

- Gold is the best portfolio insurance policy.

- Imagine an insurance policy with no monthly premium - that's gold!

- Bonds just lost 50% of value; stocks are highly volatile, plunging and soaring thousands in just a few weeks

- What will it take for investors to recognize the need for safe-haven assets, non-paper, tangible assets, such as gold and silver?

- The technicals are wildly supportive of a nominal, rocket-ride to $3,000+ gold.

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