Bill Murphy: Gold should be 3x higher than 1980’s peak

GoldSeek, Released on 5/28/22

Bill Murphy of GATA.org, returns to Goldseek.com Radio with his outlook on the PMs sector. Investors could soon see price appreciation in gold and silver, amid soaring energy prices. The energy intensive ore extraction and refining process will force producers to transfer the ever increasing costs to the marketplace, adding price support for bullion. Markets and investors dislike uncertainty, and what could cause more uncertainty for financial markets than the suggestion that conflict in Ukraine could lead to, “The end of civilization” as one of the leading global investment magnates noted we could be facing. When viewed from the standpoint of US purchasing power, gold should be approximately 3x higher than the 1980’s peak, at least $2,500. With dollar hegemony increasingly under question, further erosion of the petrodollar arrangement amid the Ukraine drama adds further weight to currency safe havens, such as bullion and related shares. As the CRB commodities index soars to 5 year highs along with crude oil, the nascent bull market in the PMs sector appears to be building momentum for explosive moves over the coming months, years.

Bill Murphy is a financial commentator and the chairman and director of the Gold Anti-Trust Action Committee (GATA), which was founded as a result of Murphy’s essays on collusion among large financial institutions to suppress the price of precious metals. He also runs a paid subscription service called Le Metropole Cafe. Murphy believes the price of gold is artificially low and has spent years lobbying the U.S. government to investigate market manipulation in the gold market.

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