“How High Can Gold Go?” “There Is No Telling” James Grant Tells CNBC
Friday, 21 September 2012
Gold is consolidating near record highs in the euro and is less than 1% below the record intraday high from just over a year ago on September 9th 2011.
One of the most astute financial analysts in the world, Jim Grant, founder of highly respected Grant’s Interest Rate Observer, was asked by Maria Bartiromo on CNBC yesterday “how high can gold go”? Grant responded that “there is no telling.”
Grant was asked about the stock market and where to invest today and asked if “you want to get in front of this train?”
He responded by advocating “security analysis” and said that he thinks that that is “where an investment in gold and silver comes in”.
Grant said the following:
“Central banks around the world are bound and determined — either through actions or words to debase their currency. They’re telling us”