One economist has blown all other price predictions out of the water this week, saying the price of gold now is ‘cheap’ and we could see $5000 within the next few years. This forecast comes from economist John Butler.
Butler says the disruption caused by coronavirus we are seeing now mimics some of behaviours which emerged in the 1970s. He explains, “Based on the historical pattern of the 1970s, and stagflation, and other times these sorts of things have come about, I think gold is going to rise, by orders of magnitude. I think it is perfectly realistic to see gold closer to $5,000 than where it is today in a few years’ time.”