GoldSeek Radio Nugget - Peter Grandich: Gold's Path to $2536

With gold holding near $2,330, Peter Grandich, legendary Wall Street analyst, reviews the junior mining index with exciting news for investors.
- Peter reviews the market charts in real-time.
- Our guest reviews the official BLS inflation and unemployment figures.
- Inflation could remain stubborn for years to come.
- Peter outlines a case for a much higher gold price, $2536.

Yeah, what we've gone through a needed and natural – I won't even want to use the word correction, I still think it's been a consolidation – and I don't think we're going to get to the corrective. I said late Friday...I think we've seen the lows. You know, whatever the corrective, low was, that's it.

Now, I don't think it's going to go in the same skyrocketing path that we saw earlier this year, but I think it's going to be a slower and more steady move up to the target I've had since it was half the price, and that's $2536. That remains my target. I remain more confident than ever that it's going to be hit and if and when we get to it, we'll talk about it and see if it needs to be reevaluated and raised or lowered.

- Might gold soar to $3,000+?

I doubt very much, it'll be lower because of everything that's happening fundamentally and the likelihood that there'll be chances that we could move to numbers that you have spoken a lot, $3000 or $4000. I've never included those numbers these last eight to ten years. I was going to be well satisfied with $2536 from the low $1200s but if and when we get there, we'll take another look at it and, you know, it'll be an easier calculation this time because I think finally, the world is waking up to something that works for a couple of thousand years – isn't the relic, isn't the dinosaur that certain groups have stated that it is. 

By that time, we'll be in October period and we're going to learn more from the BRICS about where they're heading and we're going to see in my opinion, we'll get a list of better clues that we're moving towards some sort of gold involvement with something that they will use in the future. Whether it be in trading, just among themselves, or a bigger picture of something that may be in competition with the dollar, or hopefully, maybe someday replace the dollar.

- A review of the long-term technical vantage point on gold.
- He makes a compelling case for gold mining juniors to rally sharply.
- The GDJX is below the 10-year average and appears primed for at least a 4x rally.
- Peter notes his largest personal holdings include gold mining juniors.

Visit Peter's site here.