Louise Yamada Says Gold Could Hit $5,200 Per Ounce

By on August 18, 2011

Long-time market technician Louise Yamada was interviewed on CNBC Tuesday and made the wildly bullish case for gold. She extrapolated the current trajectory to a very high price in the year 2018, adding we have yet to hit the greed phase. Yamada also projected a year the stock market would bottom.

Yamada stated her short-term target for gold was $2,000/oz. She sees the stock market potentially reaching a low in the year 2020, which would coincide with gold’s rise.

Yamada was asked if the popularity of gold ETFs was partly responsible for gold’s rise. She indicated there was some correlation to back up this view.

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