The "real move" in gold is to come, predicted Egon von Gruyerz, founder of precious metals investment and storage company GoldSwitzerland.com, on Monday.
He told CNBC he sees the inflation-adjusted price of gold [XAU=X 1241.25 23.25 (+1.91%) ] "easily" rising to six times its current price ($1,210) to around $7,000 an ounce in the future on "normal" inflation.
"Adjusted for real inflation (as per shadowstats.com) the 1980 gold peak in today’s prices corresponds to around $7,200 today. So gold could easily go up 6 times from the current price of $1,220 and still be within normal parameters," von Gruyerz's latest report for GoldSwitzerland.com said.
But von Gruyerz told CNBC gold could go higher if the world encounters hyperinflation.
Gold's 'Real Move' to $7,000 Coming: Asset Manager - CNBC
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