Most Western investors have missed the record gold rally, remaining hesitant while waiting for a price correction that may never come, Liechtenstein-based gold fund manager Ronald-Peter Stöferle says in a new video.
Substantial capital waits on the sidelines for a decline as an entry point, the Incrementum partner and publisher of the annual In gold we trust report says. Still, he said strong demand from emerging markets and central banks may close the door on opportunities.
“Treasuries are being replaced as a neutral reserve asset by gold,” Stöferle said in an interview during the Gold Forum America last week in Colorado Springs, Col.
The fund manager says gold could reach as high as US$4,800 per oz. in the medium term, but he leaves room for up to a 10% fall soon.
Watch the full interview below with The Northern Miner’s western editor, Henry Lazenby.
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