63% of Dubai Precious Metals Conference delegates think gold is heading towards $3,000 by 2014
By: Peter Cooper
Monday, 8 April 2013
In a final poll at the Second edition of the Dubai Precious Metals Conference (see video here) 63 per cent of delegates thought gold was heading towards $3,000 by 2014 and 37 per cent voted for a tumble towards $1,000. The vote followed a lively discussion between the conference’s leading bulls and bears.
Gold guru Andy Smith came out of retirement for the event with a powerful statement of how the accumulated costs of entitlements created by democratic governments would bring the world’s financial system to its knees with debt.
Sharps Pixley CEO Ross Norman also focused on the high cost of accumulated debt and how this would spill over into an ever higher gold price. He reckoned some kind of unexpected economic event would finally trigger much higher gold prices in the near future with US debt at 380 per cent of GDP.