In an interview with Yahoo! Finance’s Breakout, market forecaster Charles Nenner projects that gold will rise to a $2,500/oz level in the next “year to year and a half.” In addition to his big projection for gold, he expects silver to charge past the $50 barrier.
During gold’s peak last year, Nenner says he sold some gold at roughly $1,900/oz. He expects the cycles for gold and silver to bottom but to pick up again very soon.
Nenner recommends holding off until the two markets bottom out, which he states should happen sometime in mid-April. He is of the opinion that both silver and gold are in similar situations, and although he has no specific price targets to buy each commodity, he recommends becoming long in two weeks.
And if you miss out on the rally, Nenner thinks you need to be “educated better.”
Here’s Nenner’s interview with Jeff Macke, courtesy of Yahoo! Finance.
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