Eric Sprott: As the Fed Loses Control Gold Prices Will Soar
2016 has been exciting so far for gold investors. In the opinion of billionaire Eric Sprott, what is happening to gold and gold shares is stunning. The average gold stock is up 160% in less than 6 months, and Eric thinks gold will easily go to $2,000.
Gold, silver, and the mining shares have been the place to be ever since Eric was pushed into precious metals 16 years ago, in 2000, when gold was at $255. He was a hedge fund and equity fund manager who realized that the NASDAQ was going to crash. He wanted to protect his investors, so he got into gold stocks and opened up a hedge fund.
He has found that when most bull markets really get going, the returns are an average of 500%. In this gold bull market, $2000 gold is more like a 50% increase, so we should see it go that high at least, possibly much more!