Is that why you have repeated on more than one occasion that an ounce of gold will reach $8000 by 2013 to 2015?
Turk: Yes, that is part of it. What I am basically saying is that history will repeat. To explain, I first made this forecast in 2003 when gold was trading about $350 per ounce. It took then about $10 to purchase what $1 purchased in 1971 because of more than three decades of inflation.
I mention 1971 on purpose because gold was $35 that year and rose to over $800 in 1980. So the premise of my forecast is that gold will repeat its price performance from the 1970s, meaning that on an inflation-adjusted basis, gold will rise from $350 to $8,000. I have seen nothing over the years to suggest that I should change my forecast.