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GoldSeek Radio Nugget - Peter Grandich: Gold to $2500 and Beyond


With gold near $2,400, Peter Grandich, legendary Wall Street analyst, alerted his followers in 2021 he was liquidating all his general equities and bonds. He outlines the bullish case for junior mining shares.

- Peter favors gold and related PMs investments over general stocks and bonds.

Yes, since about $1200 on gold. I had talked about a $2500 target and you've been gracious enough over the years to continuously call on me to speak. Then a few years back, we pulled back the $1650. And I used a backing up of a truck because I really thought to the point where at the end of 2021 if you recall, I said that goal was going to outperform both stocks and bonds through 2024 and took my portfolio in that regard, not expecting that many people would follow, or should they because it was a very unusual view, but it was the fact that I believe gold as in a capital, appreciation investment would perform better than stocks and bonds.

It's done that but it's gone up in the matter, far more than as an investment. This is happening because it's signaling something you and I and some others have spoken about for a few years now – that we had to eventually, see a major change on the world monetary platform...and it's probably going to come on the back of the BRICS nations becoming more and more formidable and that the way that they would do it would be to acquire a lot of gold, get away from the U.S Investments that they have particularly bonds in the dollar.

..and then sometime probably within three years, (I don't think it's going to be be longer than that) come out with something as an alternative or a substitute, but have go back in it. So whatever they come up with, they can say to the world. Unlike those guys over there that are up to debt in the Ying Yang and only have their printing presses to guarantee you that you can get your money back.

We got this thing called gold, that helps back whatever it may be and that's the bottom line to what's been going on. 

- We review the gold chart and related indexes via our real-time, charting feature.
- The BRICS currency, which could be backed by gold, could be a key gold bull-market catalyst.
- Might a massive devaluation of the global reserve currency be imminent?
- Technical analysis via cup & handle pattern suggests gold could climb the wall-of-worry to $3,000 as soon as 2024.

Of course, hindsight's 20/20 and we can say it now because we know what happened but we were both of us and some others talked about that the cup was formed, the handle was there, and 80% of the time cup and handles break to the upside. If you measure that from a technical standpoint, you actually get a target of $2536. So now that we've broke and out and broken out well, this says to me at the bare minimum, we will get a print or trade around $2536, eventually I believe would be higher, but I also at the same time, have to tell people that when we started investing from $1200, in recent days because we're very overbought here at the moment, I have suggested that people that have listened, the clientele from our planning group, taking 5-25% profit here, especially since at the same time, I upgraded my view on copper when it was just under $4.

It would be useful... markets almost never always do what we think they should or we think it's best to. But having some profit-taking or consolidation here, now would give a more likely chance to the $3000 or $4000, or whatever numbers people have versus if we keep going up here without a breather.

- Even JP Morgan is now calling for $3,000 gold!
- When the junior resource mining shares reflect the explosive PMs advance?
- Time to build an investment portfolio, Noah's-Lifeboat?

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