Agoracom Blog

AGORACOM Chief Commentator, Peter Grandich, Talks $1,200 Gold With The – But Fears $5,000 Gold

Posted by AGORACOM at 1:48 AM on Tuesday, November 24th, 2009

If you don’t follow Peter Grandich’s blog, then you are missing out on what is arguably the best gold analyst we have seen over the last several years.  He is quoted in the media so often that I can no longer keep up.  Wall Street Journal, Marketwatch, BNN – you name it, they are calling him.

To this end, please find enclosed a video of his latest commentary on Though Grandich is not betting on $5,000 gold and frankly wouldn’t want to live in a world that will have gone terribly wrong for gold to be at those prices, he is sticking with his $1,200 target by the end of the year.

He find support for his bullish stance on gold in the fact that it is no longer the domain of so called “extremists” that were laughed at when they predicted $1,000 gold a few hundred dollars ago. Specifically, he cites long-respected Wall Street stalwarts turned gold bulls such as:

  • Paul Tudor Jones
  • John Paulson
  • David Einhorn

Each of these men spoke about their recent conversion to bullish gold in this great article over at CBS Marketwatch.  This is a must read because these are some pretty great investors – just don’t forget the fact that Peter Grandich has been long on gold for several hundred dollars longer.

Way to go Petey!


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