Dent said gold would start going down next year and fall to $400 to $500 per ounce. He expects silver to follow a similar pattern but fall more in percentage terms.
Dent believes the stock market will retrace all the gains since 1994, when he says the equity bubble began. That would take the Dow down to between 3,000 and 5,600.
As far the economy is concerned Dent and Johnson made a couple of sober predictions:
- Unemployment will peak between 13 and 15 percent.
- Florida housing prices could fall another 30-35 percent.
Dent said he expected some year-end strength in the stock market to giving investors another chance to get out.
Source: St. Petersburg Times
Below is a video featuring Dent’s latest views: