... When asked about Paul Brodsky’s thoughts on gold and his $10,000 price target, Rickards responded, “I agree completely with Paul on that. Again, I don’t want to put a stake in the ground around $10,000. My method has been to come up with a range, depending on different variables, but you end up in the same place.”
Jim Rickards continues:
“Here’s the point, whether you end up with $5,000, $7,000, Paul is saying $10,000 and that’s a perfectly respectable estimate, I could (even) see it (gold) at higher levels, $15,000 or $20,000. In other words, the price level that I have given, that is in chapter eleven of the book, is based on today’s data.
Now if you change the data, if you print even more money than we’ve printed so far, you’ll get even higher prices. But the point is Paul’s estimate is right in the middle of the range that I’ve come up with, a perfectly good estimate. We all like our investments to go up, but if you buy gold at $1,700 and it goes to $1,500, buy more because it’s on its way to $2,000, $3,000, $4,000 and higher.