Puma Exploration Inc., [PUMA-TSXV], (the “Company” or “Puma”) is pleased to announce results from the six (6) initial drill holes completed at its flagship Williams Brook Gold Project located in New Brunswick, the emerging new gold district of Atlantic, Canada.
Discovery hole WB21-02 intersected 5.55 g/t Au over 50.15 meters from surface. The mineralized and altered zone drilled includes two main high-grade intercepts of 9.88 g/t Au over 8.60 meters and 46.94 g/t Au over 3.85 meters. All the six (6) first holes intersected significant high-grade gold quartz veins and quartz networks within the altered and mineralized rhyolite (see Table 1 for significant drill results).
Figure 1: Inaugural Drilling Program at Lynx Gold Zone of the O’Neil Gold Trend
Table 1. Significant Drill Results at the Lynx Gold Zone
All 18 drill holes completed to date, testing the Lynx Zone have intercepted the mineralized and altered rhyolite unit. Drill core from 12 other holes has been sent to the lab and assays are pending. Following these excellent drill results, the company has recently decided to increase its planned campaign to 10,000 meters, up from the initial 2,000 meters.
Marcel Robillard, President and CEO, stated: “We are all very excited about the initial assay results as they have far exceeded our expectations, especially with WB21-02 returning a metal factor of 278. The drilling is validating the representativity of the high-grade gold samples collected at surface and the continuity of the mineralization at depth and laterally. The additional results should improve our model as we continue to better understand the geometry of the mineralized envelope along this segment of the O’Neil Gold Trend (OGT), that remains open.”
Figure 2: The O’Neil Gold Trend Selected Grab** Samples Collected at Surface
“The drill results, announced today, clearly demonstrates the tremendous gold potential of our Williams Brook Gold Project and confirms the appearance of a new gold district in New Brunswick, a mining friendly jurisdiction of Atlantic. Canada. It is no surprise that our technical team is anxious to begin the second phase of drilling to further test the easily accessible OGT and the other first priority targets,” added Mr Robillard.
“It is really exceptional to make such a great gold discovery in such a short period of time and with a limited exploration budget. This is the result of the dedicated hard work of all the professionals working with Puma,” commented Réjean Gosselin, Executive Chairman of the company.
SIGNIFICANT POSITIVE OBSERVATIONS FROM THE INITIAL DRILLING RESULTS:
- The gold mineralisation starts at surface:
- WB21-01 intersected 1.30 g/t Au over 25.60 meters from 4.00 meters
- WB21-02 intersected 5.55 g/t Au over 50.15 meters from surface (0m)
- WB21-05 intersected 1.16 g/t Au over 48.70 meters from 1.50 meters
- The high-grade samples collected at surface are representative of the mineralization at depth:
- WB21-01 intersected 50.0 g/t Au over 0.50 meters
- WB21-02 intersected 59.68 g/t Au over 1.50 meters
- WB21-03 intersected 23.10 g/t Au over 0.65 meters
- WB21-05 intersected 16.07 g/t Au over 1.10 meters
- WB21-06 intersected 44.74 g/t Au over 0.70 meters
- Significant mineralized and altered thickness intersected:
- WB21-01 intersected 1.30 g/t Au over 25.60 meters
- WB21-02 intersected 5.55 g/t Au over 50.15 meters
- WB21-03 intersected 1.47 g/t Au over 12.10 meters
- WB21-05 intersected 1.00 g/t Au over 26.40 meters
- WB21-06 intersected 1.16 g/t Au over 48.70 meters
- The high-grade surface mineralization is extending at depth:
- WB21-02 intersected 59.68 g/t Au over 1.50 meters from 47.60 meters
- WB21-03 intersected 23.10 g/t Au over 0.65 meters from 56.85 meters
- WB21-04 intersected 2.84 g/t Au over 1.10 meters from 140.50 meters
- WB21-06 intersected 44.74 g/t Au over 0.70 meters from 47.60 meters
- The gold mineralisation is extending in the sediments:
- WB21-04 intersected 1.92 g/t Au over 0.70 meters from 16.80 meters
- WB21-04 intersected 2.84 g/t Au over 1.00 meters from 140.50 meters
INAUGURAL DRILLING PROGRAM AT WILLIAMS BROOK GOLD PROJECT
As planned, a total of 18 holes were completed for 2,360 meters (see Table 2). The NQ core oriented maiden drill program was conducted to test a segment of the 700-meter-long O’Neil Gold Trend (OGT), part of the Williams Brook Gold Project. The OGT shows a distinct 7-kilometer-long magnetic signature highlighted by the 2021 detailed VTEM airborne survey.
Figure 3: 2021 Detailed VTEM Airborne Survey Showing Distinct Magnetic Signature
The drilling program was designed to better understand the spatial geometry of the mineralized envelope and discover any new potential high-grade zones extending at depth. It was planned with the support of Terrane Geoscience Inc. who completed, earlier this summer, a study of the alteration pattern and structural analysis of the main vein.
The holes were oriented to intersect the down-dip projection of significant high-grade gold vein networks exposed at surface in trenches and in stripped areas at the Lynx Gold Zone along the O’Neil Gold Trend (OGT).
Table 2. Technical Information About the Drill Holes Released
Each of the 18 diamond drill holes show consistent mineralization and pervasive alteration over core length varying between 10 m to 75 m starting at surface. The main features observed included: abundant quartz veins and large network of quartz veinlets showing pervasive sericite and iron alteration. Disseminated sulphides and oxides (galena, chalocopyrite, pyrite, sphalerite, stibinite, bornite, covellite, tetrahedrite and malachite) were also present within the strong alterated intervals and within quartz veins. Visible Gold (VG) was observed in many holes. The veins are granulars, drusics, and sometimes massive within the altered porphyric rhyolite in contact with the sediments. The sediments are composed of altered siltstone interbed with mudstone.
Figure 4: High-Grade Gold Core from WB21-02
Drilling ended August 20th, 2021, with 18 holes totaling 2,360 meters having been completed. The average depth per hole ranged between 58 to 242 meters. Final core logging and sampling is completed with the samples of all the holes sent to the laboratory for assaying. Once received, assay results will be compiled, interpreted and then released on a timely basis.
The technical team is on site to proceed with trenching and stripping operations to extend the favorable contact between the altered rhyolite and the sediments along the entire O’Neil Gold Trend. A large grab sampling program with detailed mapping of the favourable contact is in progress. A permanent crew with one excavator moves forward with exploration trenches in the entire area. Drill pads for the next core oriented drill campaign are also being prepared.
O’NEIL GOLD TREND (OGT)
The O’Neil Gold Trend (OGT) is a pervasive altered and brecciated rhyolite unit hosting significant gold showings and occurences followed by trenching over a strike length of 700 meters. The geophysical signature of the OGT is expressed over 7km. The favourable unit (rhyolite) is similar and parallel to the structures hosting the “Williams 1” and “Williams 2” Gold Zones.
These trends are interpreted to be related to a major rifting in the New Brunswick Geological events and could represent a low sulphidation epithermal gold system. Along the OGT, the width of the rhyolite varies from 5 to 250 meters with an average apparent thickness of 150 meters.
High-Grade Selected Grab Samples Assays on the Prolific O’Neil Gold Trend (OGT)*:
O’Neil Gold Zone (VG**): 128.5 g/t Au, 44.4 g/t Au, 38.8 g/t Au, 32.8 g/t Au, 23.1 g/t Au
Pepitos Gold Zone (VG**): 52.1 g/t Au, 16.1 g/t Au, 15.0 g/t Au, 13.1 g/t Au, 4.87 g/t Au
Lynx Gold Zone (VG**): 241.0 g/t Au, 79.8 g/t Au, 74.2 g/t Au, 63.5 g/t Au, 58.4 g/t Au
Chubby Zone Area: 3.5 g/t Au, 1.2 g/t Au, 1.2 g/t Au, 0.45 g/t Au
Moose Gold Zone: 2.4 g/t Au, 2.1 g/t Au, 1.3 g/t Au, 1.1 g/t Au
* Selected rock grab samples are selective by nature and may not represent the true grade or style
** VG: Visible Gold
Dominique Gagné, PGeo, independent qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Mr. Gagné is independent of the Company.
QUALITY ASSURANCE/QUALITY CONTROL (QA/QC)
Rock samples were bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick where each sample is dried, crushed, and pulped. The samples were crushed to 70% less than 2mm, riffle split off 1kg, pulverise split to better than 85% passing 75 microns (Prep-31B). A 30-gram subsplit from the resulting pulp was then subjected to a fire assay (Au-ICP21). Other screen sizes available. Duplicate 50g assay on screen undersize. Assay of entire oversize fraction.
ABOUT PUMA EXPLORATION
Puma Exploration is a Canadian-based mineral exploration company with precious and base metals projects in early to advanced stages located in the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. Great efforts will be made by the Company in the coming years to deploy its DEAR strategy (Development, Exploration, Acquisition and Royalties) in order to generate maximum value for shareholders with low shares dilution.
Learn more by consulting www.explorationpuma.com for further information on Puma.
Marcel Robillard, President, (418) 750-8510; email@example.com
Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, except as required by law. Puma undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.tsx tsxv tsx venture gold iron diamond
Mining Experts Have Their Eye on Golden Arrow Resources
Source: Streetwise Reports 09/22/2021
The Critical Investor and Gerardo Del Real look forward to the first set of drill results from this…
Source: Streetwise Reports 09/22/2021The Critical Investor and Gerardo Del Real look forward to the first set of drill results from this Canadian explorer's Rosales project in the prolific Atacama mining district.
Golden Arrow Resources Corp. (GRG:TSX.V; GARWF:OTCQB; G6A:FSE), a junior mining company with properties in Chile, Argentina, and Paraguay, has already attracted attention in the industry. It is on the verge of starting to drill at its Rosales copper project in Chile.
The TEM soundings suggest a "strata-bound or mantos-style copper deposit model, which is further supported by the mineralization, alteration, and host rocks identified to date at Rosales," Golden Arrow Vice President of Exploration and Development wrote in a recent news release.
"Results are expected back from the lab in October."
"This type of high-grade copper deposit is common in Chile, with well-known examples including the El Soldado and Mantos Blanco mines."Plans call for 3,000 meters (3,000m) of phased reverse circulation drilling at Rosales, testing the anomalous targets identified via a surface transient electromagnetic (TEM) survey, TEM soundings, and a ground-based magnetic survey.
At least two industry experts have discussed the reports on Golden Arrow. The Critical Investor, an online mining platform whose editor is a mining stock investor and newsletter writer, is eager to see the results of Golden Arrow's drill campaign, writing, "It is very interesting to see Golden Arrow Resources drilling the big conductor at Rosales now which starts at 500m depth. . .I'm looking forward [to seeing] if this deep, large conductor could indicate actual mineralization."
"The recent hole by Filo Mining speaks to the incredible geologic potential in the region."
Also, The Critical Investor summarized the timeline of the first phase of drilling. "After talking to Vice President of Exploration Brian McEwen, the company appears to have planned to drill one of the first holes into this conductor around the first week of September, to a depth of 700m. Drilling the first phase of 1,500m will take about one to two weeks, assaying another three to four weeks, and results are expected back from the lab in October," it wrote.
Gerardo Del Real, co-owner of Digest Publishing, which offers investment research and ideas, wrote the following about Golden Arrow, a member of the Grosso Group, and its exploration success and potential upside in Argentina:
"The Grosso Group pioneered mining in Argentina. The recent hole by Filo Mining speaks to the incredible geologic potential in the region."
Del Real explains, "It bodes well when the group looking to make a discovery or discoveries of significance has done it before. In this case not only has this group done it, they opened the door for others to unlock the vast potential Argentina has for significant deposits."
Golden Arrow has approximately 116 million shares issued and outstanding and 148 million fully diluted. In a recent press release, the company announced that it has received approval from the TSX to purchase up to 10,132,012 of its common shares, which is equal to 10% of the public float as of Aug. 10, 2021.
The bid to purchase the shares commenced on Sept. 1, 2021 and will end within a year (or at Golden Arrow's discretion).
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) An affiliate of Streetwise Reports is conducting a digital media marketing campaign for this article on behalf of Golden Arrow Resources Corp. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Golden Arrow Resources Corp., a company mentioned in this article.
( Companies Mentioned: GRG:TSX.V; GARWF:OTCQB; G6A:FSE, )tsx otcqb tsxv copper
Palladium One Shares Jump 10.26% After Reporting Drill Results 112 metres of 2.08% PdEq at LK, Finland
Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7N1-FSE] reported results of Kaukua South hole LK21-081, which…
Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7N1-FSE] reported results of Kaukua South hole LK21-081, which intersected 4.07 g/t palladium equivalent (PdEq) over 24 metres, within 2.08 g/t PdEq over 112 metres, starting at 171.5 metres depth.
This represents the highest-grade intercept over width that drilling has returned to date, at the Kaukua South zone of the 100%-owned LK project in Finland. In addition, down-plunge drilling is successfully expanding higher-grade core zones to depth as demonstrated by hole LK21-080, which intersected 1.86 g/t PdEq over 40.5 metres, including 2.95 g/t PdEq over 3.0 metres from 229.5 metres depth. Multiple holes now demonstrate increasing grade and widths at depth.
Derrick Weyrauch, president and CEO, commented: “Our Kaukua South discovery continues to deliver excellent results and demonstrates potential for higher-grade core zones within the Kaukua area. We believe there are several other higher-grade core zones yet to be defined based on the significant number of drill targets still to be tested.”
Hole LK21-081 returned 234 gram-metres, surpassing hole LK20-016, which returned 201 gram-metres reported October 22, 2021. These holes are part of two parallel higher-grade, southwest-plunging core zones or shoots at Kaukua South. A similar core zone occurs at the existing Kaukua deposit, where it occupies a linear depression in the footwall contact.
These core zones may represent magma channels, within the marginal phase of the Koillismaa mafic-ultramafic complex, that have thermally eroded the footwall rocks. Induced polarization (IP) surveys have proven very effective at targeting these higher-grade core zones, and two potential new zones have been identified to the west and east of the drill-defined mineralization at Kaukua South, see news release dated July 7, 2021. Refer to company press release for complete drill results.
The company is now calculating palladium equivalent using $1,600 (U.S.) per ounce for palladium, $1,100 (U.S.) per ounce for platinum, $1,650 (U.S.) per ounce for gold, $3.50 (U.S.) per pound for copper and $7.50 (U.S.) per pound for nickel consistent with the calculation used in the company’s September, 2021, National Instrument 43-101 Haukiaho resource estimate.
Spot gold equivalent
Spot palladium and gold equivalents are calculated using recent spot prices for comparison purposes using US$2,300/oz palladium, US$1,000/oz platinum, US$1,800/oz gold, US$4.50/lb copper and US$9/lb nickel.
Palladium One Mining’s flagship project is the Lantinen Koillismaa project, a palladium-dominant platinum-group-element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 km of favourable basal contact and building on an established NI 43-101 open-pit mineral resource.
September Gold Forecast Update: “Only” 68 Analysts Now Forecast Gold Going To $3,000 Or More (+19K Views)
Many analysts are projecting that gold will be going at least as high as $3,000/ozt over the next few years. One analyst even claims that gold will spike…
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More and more analysts are projecting that gold will be going at least as high as $3,000/ozt over the next few years. One even claims that gold will spike up to $87,500/ozt.! Below is a revised list of their names and stated rationale for each of their forecasts.
By Lorimer Wilson, editor of munKNEE.com – Your Key To Making Money!
1. Jim Sinclair: $50,000 in 2025 and to $87,500 by 2032
- In a recent YouTube video Sinclair said that, with so many U.S. Dollars being printed to uphold the economy as a result of COVID-19, that Gold will rise to $50,000/ozt. (i.e. go “straight up” in Sinclair’s words) at the end of the 45-year gold cycle which is coming up in 2025 and rise up to $87,500/ozt. by the end of 2032. Source
1. Erik Lytikainen: $25,000 by 2030
- “We will not be surprised to see $25,000 per troy ounce of gold by the year 2030. It will likely be a volatile ride higher, with large drawdowns along the way.” Source
2. Martin Armstrong: $25,000
- “Gold should theoretically sell for $25,000 a troy ounce, given the monetary prolificacy since 1980”…in reference to the ever soaring $3.3 Trillion U.S. budget this year, alone. Source
1. Goldrunner: $20,000 between mid-2028 and end of 2029
- “As a result of the recent massive paper money printing, our chart work suggests that gold could possibly spike up to as high as $20,000 per troy ounce – or even a bit higher – some time between mid-2028 and the end of 2029.” Source
2. Pierre Lassonde: $20,000 in 2 – 5 years
- “Gold prices should skyrocket to much higher levels, even $20,000/ozt. in two to five years’ time, as gold reaches a price level close to the level of the Dow Jones Industrial Index.” Source
3. Egon Von Greyerz: $20,000
- “I believe a gold price of $20,000/ozt. is very probable, even without high inflation.” Source
4. Leigh Goehring: $10,000-$15,000 by 2027-28
- “Our target is between $10,000-$15,000 per troy ounce.,,[by] 2027-28.” Source
5. Briton Hill: $5,000-$20,000 in next 5 to 10 years
- “You can’t produce trillions of dollars with 0% interest rates and not introduce inflation. Long-term, we could be entering a cycle similar to the 1970s, where the precious metal sector rose by thousands of percentage points, and if we see something like that happen again in the next 5-10 years, we could easily see $5,000, $10,000, even $20,000 gold,” he said. “Gold could easily hit $20,000 per troy ounce in the next decade.” Source
1. James Rickards: $10,000
- “$10,000 per troy ounce is not pie in the sky. It’s not a number I pulled out of a hat to get headlines. It’s the actual mathematical implied non-deflationary price of gold.” Source
2. Daniel Oliver: $10,000
- “The money to push gold over $10,000 per troy ounce has already been printed and now they are going to print more…No doubt strong fiscal and monetary intervention may extend its life for a time, but then the ultimate price objective for gold will then be markedly higher.” Source
3. Max Keiser: $10,000
- To deal with the disaster of “trash fiat money” choking the global economy, a new gold standard will need to be introduced “and to make it work, we will see gold’s price top $10,000 per troy ounce.” Source
4. Adam O’Dell: $10,000
- “The price is guaranteed to hit near $10,000/ozt..” Source
5. AG Thorson: $7,000 – $10,000
- “By the end of this decade, we expect gold to reach $7,500 – $10,000 per troy ounce.” Source
6. Peter Schiff: $5,000 to $10,000
- Schiff projects a price of between $5,000 and $10,000 per troy ounce, and says the Dow Jones Industrial Average, which is now valued at about 12 times the price of gold, will trade at just 7.5 times instead. Eventually, he sees gold and the Dow trading at even money. Source
7. Don Durrett: $3,000 to $10,000
- “My price target for gold is somewhere between $3,000 and $10,000 per troy ounce.” Source
8. David Smith: $10,000
- “Gold could reach US$10,000 per troy ounce by the end of the bull market.” Source
9. Bob Kirtley: $10,000
- “My target has been $10,000/ozt. since June 2006, so at that point, an exit strategy will be executed, hopefully with some handsome profits.” Source:
10. Scott Minerd: $5,000 to $10,000
- “As chaotic price swings of the crypto world push investors back into gold and silver, the precious metals will start to build momentum, with the ultimate gold price target set at $5,000-$10,000 per troy ounce.” Source
$7,000 -$9,000 Gold
1. Florian Grummes: $8,000 to $9,000 in 5 to 10 years
- “We could end up having gold at $8,000 to $9,000 per troy ounce in five to 10 years.” Source
2. Ronald-Peter Stoeferle and Mark Valek: $4,800 to $8,900 by 2030
- “The proprietary valuation model shows a gold price of $4,800/ozt. at the end of this decade, even with conservative calibration. Should money supply growth develop in a similar inflationary manner to that of the 1970s, a gold price of $8,900/ozt. is conceivable by 2030.” Source
3. Graham Summers: $8,000
- “Gold first rallied about 630% from 2003-2011. It then corrected about 43% before bottoming in 2015 at $1,060/ozt.. If it follows a similar second leg up this time around, it’s going to ~$8,000 per troy ounce before it peaks.” Source
4. Hubert Moolman: $7,758
“In my opinion, it is virtually guaranteed that gold will again catch up with the Dow’s performance since 1913, and significantly surpass it just like in the 70s. This means we will likely see gold reach $7,758/ozt. (in the near future) and eventually go on to reach multiples of that high.” Source
5. Gov Capital: $5,837 by 2023; $7,220 by 2024; $8,531 by 2025
- “5 year gold forecast: $8530.74/ozt.” Source
6. Jason Hamlin: $4,000 to $8,000 by 2025
- “We fully expect to see the gold price close out the year 2025 somewhere between $4,000 and $8,000 per troy ounce.” Source
7. Jeff Clark: $3,000 to $8,000 in 5 years
- “Potential 5-year high: $3,000 to $8,000 per troy ounce.” Source
8. Charlie Morris: $7,166
- “A bullish target of $7,166/ozt. is both logical and plausible.” Source
9. Tom Fitzpatrick: $4,000 to $8,000
- “We see no reason why this bull market cannot be as strong as the prior two averaging a multiple of eight times over an average of 7 years. Translating that to the $1,046/ozt. low in 2015 would come up with a number north of $8,000/ozt. possibly in as little as the next 2-3 years. Even if that sounds aggressive, a move similar to what we saw in 2009-2011 would suggest close to $4,000/ozt..”
10. Mike McGlone: $7,000 by 2025
“From 2001-2011, gold advanced about 7.5 times, which if repeated would bring it to around $7,000/ozt. in 2025.” Source
$4,000 – $5,000 Gold
1. Rob McEwen: $5,000
- The founder of Goldcorp Inc., McEwen predicts that gold will soar to $5,000 a troy ounce, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. Source
2. Victor Dergunov: $5,000 in 3-5 years
- “Gold at $5,000/ozt. in 3-5 years seems plausible, and it is likely to continue to go higher after that.” Source
3. Dan Popescu: $5,000 in 5 years
- “Gold price could break above $5,000/ozt. in the next 5 years.” Source
4. David Morgan: $5,000 before the end of the decade
- “Gold could hit $5,000 a troy ounce this decade, especially as the greenback loses purchasing power.” Source
5. Moe Zulfiqar: $5,000 by 2030
- ” It wouldn’t be shocking to see gold at $5,000 per troy ounce, or more, by 2030. ” Source
6. Brian Whitfield: $5,000 by 2030
- “I feel I am safe, and being conservative, in saying that gold should be trading between $3000 – $5000 per troy ounce in ten years. Should the U.S. dollar fail and/or the U.S. dollar loses the coveted global reserve currency status and/or even the loss of the petrodollar, gold could hit these level far sooner.” Source
7. Chris Wood: $5,386
- “The gold price of US$850/ozt. at the peak of the last secular bull market in gold in January 1980 was then equivalent to 9.9% of US disposable income per capita. The gold price is now just 3.6% of US disposable income per capita. Therefore, to reach 9.9% of US disposable income per capita means gold should rise to US$5,386/ozt.. Source
8. Ole Hansen: $4,000
- “$4,000/ozt. probably is a little bit far-fetched as the world looks right now, but if you look years into the future, then that is possible because the repercussions of what we’re going through right now with the pandemic and the aftermath is going to be something that’s going to be felt for at least this generation and potentially beyond.” Source
9. Geraldo Del Real: $3,000 to $5,000
- “I actually think $3,000 to $5,000 per troy ounce is very reasonable.” Source
10. Thomas Kaplan: $3,000 to $5,000 by 2030
- “Gold prices could rally as high as $3,000 to $5,000 per troy ounce within a decade.” Source
11. David Rosenberg: $3,000 to $5,000
- “A $3,000 to $5,000 per troy ounce target.is fundamentally justified based on the facts we have today.” Source
12. Gary Christenson: $3,000 to $5,000 by 2022
- “A reasonable “status quo” valuation for gold in 2021 is around $3,000/ozt.. Prices will fall below and occasionally spike much higher than the valuation so a gold price of $5,000/ozt. in 2020 – 2022 is plausible.” Source
13. Shaun Djie: $3,000 to $4,000 within 10 years
- “In the next 10 years, gold will continue to be volatile. Gold could trade anywhere between the levels of $3,000 or $4,000 per troy ounce in the next ten years given how much cash will be potentially put into the economy.” Source
14. Frank Holmes: $4,000 in 3 years
- “The yellow metal is set to rally in the same fashion as in the aftermath of the last recession and, if cycles are exactly the same, gold could go to $4,000/ozt.”. Source
15. Diego Parrilla: $3,000 to $5,000 in the next 3 to 5 years
- Unprecedented monetary stimulus is fueling asset bubbles and corporate debt addiction — rendering interest-rate hikes impossible without an economic crash. In the ensuing market mania gold could rise to $3,000 to $5,000 per troy ounce in the next three to five years. Source
16. Massimiliano Bondurri: $3,000 to $5,000 in 3 to 5 years
- Massimiliano Bondurri, a capital founder and a CEО of SGMC, believes an ounce of gold will rise in price to $3,000 -$5,000 per troy ounce in the next 3-5 years. Source
17. Eric Fry: $3,000 to $4,000
- ‘When this ballgame ends, gold with be trading for at least $3,000 a troy ounce, and an extra-inning affair would not surprise me — lifting the gold price past $4,000/ozt..” Source
18. Michael Cuggino: $4,000
- Cuggino, CEO of the Permanent Portfolio Family of Funds, a $1.9 billion mutual fund that is conservatively run and rated four stars by Morningstar, says it would “not be an unreasonable move” for gold to breach $4,000/ozt.. Source
19. Kirk Spano: $3,000 by mid-decade; $5,000 possible
- “$3,000/ozt. mid-decade [with] upside potential to $5,000 per troy ounce.” Source
$3,000 – $3,500 Gold
1. Chris Vermuellen: $3,500
- “Expect to see an ultimate peak price in gold well above $3,500/ozt..” Source
2. Victor Dergunov: $3,500 by end of 2022
- “When we consider that the monetary base is likely to surge to around $8 trillion by year-end, we can conclude that this will give us around a 10,000% increase from the roughly $80 billion in monetary base the U.S. had in the early 1970s. Likewise, we can apply a similar percentage to the $35/ozt. gold price around the same period. A 10,000% increase from the $35 gold price would put gold prices at around $3,500 per troy ounce, roughly 100% higher than where the price of gold is today, [and] I think it is quite likely that we will see gold prices appreciate to $3,500/ozt. by the end of 2022.” Source
3. Charles Gibson: $3,281
- “Since 1967, the price of gold has shown an extremely strong (0.909) correlation with the total U.S. monetary base. The more dollars that either are, or could be, in circulation, the higher the expected gold price. With the total US monetary base now closing in on US$5.5tn the gold price could very reasonably be expected to rise to as high as US$3,281/ozt.” Source
4. Bank of America: $3,000 by end of 2021
- BoA raised its 18-month price target for gold to $3,000 a troy ounce citing the prospects of endless monetary expansion from central banks, including the Federal Reserve, to limit the economic damage from the COVID-19 pandemic. Source
5. WingCapital Investments: $3,000
- “Using the post-2008 bull market as a guideline during which gold more than doubled within the ensuing 3 years, $3,000/ozt. would be a reasonable long-term target in our opinion.” Source
6. Barry Dawes: $3,000 within 2 to 3 years
- “I expect to see $3,000/ozt. in gold over the next 30 months.” Source
7. Brian Lundin: $3,000 by 2024
- “I think we’ll set a new record in real terms, exceeding $3,000/ozt., at some point over the next four years or so.” Source
8. Byron King: $3,000
- “I think Bank of America is on track. I don’t think there’s any question gold will see $3,000/ozt.. As with all things in life, it’s just a question of how long it will take.” Source
9/10. Ben Morris and Drew McConnell: $3,000
- “$3,000 per troy ounce isn’t a long shot.” Source
11. Alex Mashinsky: $3,000 by end of 2021
- Mashinsky sees gold climbing to $3,000/ozt. by the end of next year but admits that even more gains are possible depending on how bad the currency debasement gets. Source
12. Robert Kiyosaki: $3,000 within 1 year
- “I predict $3,000/ozt. gold in 1 year.” Source
13. Stewart Thomson: $3,000
- “Queen Gold is assured of launching above the key $2,000/ozt. price zone, ready to begin a rocket blast towards my medium-term $3,000/ozt. target!” Source
14. Mark O’Byrne: $3,000 in next 12 months
- “Gold is quite likely to climb to $3,000/ozt. in the next 12 months.” Source
15. John Ing: Higher than $3,000
- “We expect gold to trade higher than $3,000 a troy ounce due to a lower greenback and solvency concerns.” Source
16. Joe Foster: $3,200 to $3,400
- “We…believe this to be a deflationary cycle and both recent deflationary gold bull markets suggest that a price over $3,000 per troy ounce is reasonable. In fact, if one believes, as we do, that the current central bank stimulus to fight the impacts of the COVID-19 virus, along with elevated levels of systemic risks, are similar to those during the global financial crisis, then $3,400/ozt. may be the target for this bull market.” Source
17. SomaBull: $3,000
- “The money supply is quickly heading to levels that would support a $3,000/ozt. gold price well in excess of fair value by the time this bull market is exhausted.” Source
18/19. Yvo Timmermans and Paul Van den Noord: $1,900 to $3,000 over next 18 months
- “We anticipate gold will fall within a bandwidth of $1,900 and $3,000 per troy ounce over the next 18 months.” Source
20. Jordan Roy-Byrne: +$3,000
“Gold is currently building the handle portion of a cup and handle pattern, which we anticipate could break to the upside sometime in 2022 or early 2023. The measured upside target is $3,000/ozt., but these charts argue the run could go farther.” Source
21. Adam Trexler: $3,000
“With inflation coming, we’ll see gold over $2,500/ozt. in real dollar terms but we’ll see a devaluing of the dollar…[and] if you see 10% inflation, the dollar number value of gold could be much higher. I don’t think $3,000/ozt. gold is impossible and, if we see a hyperinflation scenario, it could be significantly higher.” Source
What do you think of the above price forecasts? Have your say in the “Comments” section below. Also, if I have missed other analyst forecasts (they must be within the last year) please mentioned them below and I will include them in a future article.
About Lorimer Wilson
Lorimer Wilson is an economic & financial commentator who has written numerous articles on economics, finance, precious metals, and the cannabis stock sector. He is the Managing Editor of munKNEE.com, a site that provides a selection of the internet’s best finance articles in an edited, reformatted and abridged format to ensure a fast and easy read.
The post September Gold Forecast Update: “Only” 68 Analysts Now Forecast Gold Going To $3,000 Or More (+19K Views) appeared first on munKNEE.com.dollar gold silver inflation monetary markets reserve money supply metals interest rates central bank correlation monetary expansion money printing debasement reserve currency inflationary deflationary crash ax precious metals
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