James Rickards: Gold could spike to $10,000 on ‘war’

It has been a while since we have seen predictions of a meteoric rise of precious metals. Gold and silver are surging right now because of geopolitical tensions and several other factors, and gold is certainly one of the best performing assets this year so far.

But one financial expert sees the yellow metal going a lot higher in the near future.

Speaking in an interview with The Street, James Rickards, the bestselling author of “Currency Wars, thinks gold is headed to $10,000 an ounce because of war.

“The bigger picture, the one I’m looking at, is that gold hit an interim low on Dec. 15 and it has been grinding higher ever since. It’s one of the best performing assets of 2017,” he said. “People seem to have very short attention spans. I’m just looking down the road and you can see the war is coming.”

War may not be the only factor for gold and silver’s dramatic jump. When you factor in the tidal wave of inflation coming in, the political turmoil unfolding in Washington, geopolitical risks and the mountain of debt, it is inevitable that gold will soar.

At the time of this writing, gold is trading at $1,341.20 an ounce, while silver is above the $18 threshold.

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