ABSA, SENIOR TREASURY ECONOMIST
POSITIVE on gold. His “strictly personal belief” is that gold will burst through its nominal high of $850/oz in the next two years.
“I watch the currencies. When there’s strength in the euro I immediately check what the dollar is doing. At the moment, there are structural issues, so even though the euro is not strong, the gold price is still gaining ground.
“Then there’s also the ‘looney left’ – the reappearance of nationalism in places like Bolivia and Venezuela that makes finding and producing gold from some of the emerging economies harder to do. This basically emanates from greed.”