Gold legend Pierre Lassonde sounds unphased by the correction in an interview with King World News.
“Gold was going up too fast, it needed a breather, it needed a correction to be able to stay in a bull market.”
Looking forward he says gold will attack $2000 in September, though it may face more corrections. Regardless he sees it breaking new records soon.
“Depending of course on what’s happening in the political world, if Greece explodes in the meantime, there’s no telling where gold is going to go. I mean you could see $2,400, $2,500 before year end. Is there a possibility of that? Yeah I think there is a 10% chance of that happening. If you look two years out I think there is a 100% chance (of $2,500 gold).”