David Morgan explains the currency crisis continues (citing the Euro crisis) and that Gold is not in a bubble.
He also gives a possible target of 5000 USD for one ounce of Gold, but as he believes it's actually the fiat currencies that go down instead of Gold going up, he prefers to see the price of Gold in terms of ratio to the stock market or silver. He except the Gold to Silver ratio to return to its historical ratio of 16.
He is very bullish on Silver because of 3 reasons:
- There 66% less silver than during the 1980 bull market
- Back then, it was mainly a US market and now it's a global market
- Internet is there and allow people to quickly buy or sell