2020: Gold Prices Could Soar to $2,000/oz.

Written by Swiss America

gold 2957431 640Gold prices could soar to $2,000 next year -CNBC
"Gold prices could surge by about 30% to as high as $2,000 per ounce next year, according to David Roche, president and global strategist at Independent Strategy. The price of spot gold currently stands at around $1,500 per ounce.

'What my gut says is that cause of the vilification of fiat currencies by central bankers, which is set to get worse - not better, people will look for an alternative currency,' Roche told CNBC's 'Squawk Box' on Thursday. 'Gold is a good alternative currency because it's safe, and because it costs nothing to own it compared to paying negative rates on deposits,' Roche said. As a result, gold prices will likely touch $1,600 before the end of this year, before moving higher to $2,000 next year, he said. Roche said central banks are now 'quite rightly worried' about the next downturn...'That's why I buy gold.'"