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Gold’s ‘honest’ price $10,000, says Societe Generale

We should dismiss exclamations by gold bugs who think gold prices should be way higher, say $3,000 or $5,000. But when SocGen’s global strategy team thinks gold’s ‘honest price’ is $10,000, one should sit up and take notice.

Dylan Grice, part of SocGen’s global strategy team analyst, says that with global demand for non-debased currency surging, last week’s capitulation by the Swiss demonstrated once again the perverse risk inherent in doing the right thing. It also narrowed the already shrunken universe of sound
currencies. Meanwhile, the price of gold at which the US dollar would be fully backed has reached $10,000 per ounce. READ MORE HERE

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