As long as the monetary base keeps growing, gold prices will keep rising, says E.B. Tucker, director of Metalla Royalty & Streaming.
“The [monetary base] is never going to go down,” he said. “Gold is not a way to speculate and make a big profit, it’s a way to protect your wealth. It’s wealth insurance.”
Tucker said that gold may be seen as a contrarian play right now, as investors pile into equities.
“You should be interested in things when people disparage you say you’re interested in them,” he said.
Tucker said he is sticking to his call that gold will revisit 2011 price levels.
“What’s going to happen over the next couple of years is that we’re calling for gold to take out its old high next year. It’s $1,900, roughly, in the spot market so we think it will take that out and we feel really confident about that,” he said.