Gold prices could surge to as high as $2,000 per ounce next year, according to David Roche of Independent Strategy.
"Gold is a good alternative currency because it's safe, and because it costs nothing to own it compared to paying negative rates on deposits," said David Roche of Independent Strategy.
Gold prices could surge by about 30% to as high as $2,000 per ounce next year, Roche said. The price of spot gold currently stands at around $1,500 per ounce. A mark of 999.9 fine sits on hallmarked one kilogram gold bullion bars at the Valcambi SA precious metal refinery in Lugano, Switzerland.Gold prices could surge by about 30% to as high as $2,000 per ounce next year, according to David Roche, president and global strategist at Independent Strategy.
"Gold is a good alternative currency because it's safe, and because it costs nothing to own it compared to paying negative rates on deposits," Roche said. As a result, gold prices will likely touch $1,600 before the end of this year, before moving higher to $2,000 next year, he said.
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