A Legend Speaks Out About The Gold & Silver Takedown
June 27, 2013
On the heels of extraordinary turbulence in the gold and silver markets, today legendary Pierre Lassonde spoke with King World News regarding the takedown in these key markets. Lassonde also told KWN what to expect in the gold and silver markets going forward. Lassonde is arguably the greatest company builder in the history of the mining sector. He is past President of Newmont Mining, past Chairman of the World Gold Council and current Chairman of Franco Nevada.
Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom with our global readers during this critical period in these markets.
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June 27, 2013
Eric King: “We obviously had another smash on gold and silver. What are your thoughts here Pierre?”
Lassonde: “Every year in June or early July is always the point of maximum stress for gold and silver. This year is no exception. When I look at gold in particular, if you go back 1974 to 1976 we saw a 47% retracement in gold.
If we were to see something like that today, gold would go slightly below $1,000. Could it happen? Yes, of course anything can happen, but I doubt it. A 40% retracement is slightly below $1,200. We’re almost there on gold already….