Commodities
Gold Prices Predicted to Surge Tenfold by Electrum Group Chairman
Thomas Kaplan, chairman of the Electrum Group, predicts that gold prices will rise tenfold from current levels. Speaking to Kitco News, he stated that a correction within a bull market is underway, similar to the 1987 stock market crash.
Kaplan noted that gold traded near $4,515 an ounce recently and warned that governments may seize profitable mines during economic downturns.
He also mentioned that silver is a 'thoughtful person's Bitcoin' and advised investors who are underwater on silver purchases to average down. Kaplan believes that in the long term, gold and silver will multiply from current levels.