Bryan (at Gabelli) – Gold Could Easily Double From These Levels
September 28, 2012
Today 25 year veteran Caesar Bryan surprised King World News when he spoke about gold moving up another $1,900. He said, “Gold could easily double from here.” Bryan, from Gabelli & Company, also stated, “… there is no question that gold is undervalued today.”
Here is what Caesar had to say: “The balance sheets of the major central banks, over the last several years, have gone from just over $2 trillion, to almost $10 trillion. We’re talking here about the Fed, ECB, BoE, and the BOJ.”
Caesar Bryan continues:
“Most of that increase has been in the last few years, since the financial crisis. We are clearly not at the end of this, and you could argue that the rate of increase is actually accelerating. I don’t believe that has been properly reflected in the gold market yet.
The gold market breached $1,000 in the beginning of 2008, fell toward the $700 level after the Lehman crisis, and then went back over $1,000 in 2009. Since that time we have had a dramatic increase, a more than doubling of the balance sheets of just those four central banks….