What’s your price target for gold?

Watch the full 28-minute interview at http://www.goldmoney.com/greyerz -interview. James Turk asks Egon von Greyerz of Matterhorn Asset Management what his target for the future gold price is, he repeats his 8000$ per ounce by 2013-15 prediction. Egon’s target was 6-12 thousand $/oz, however they both think that in view of current developments their previous estimates could be too conservative. They talk about hyperinflation and monetary crisis as a result of money printing. They discuss the coming monetary crisis and the importance of holding gold outside the banking system. They remark that the gold price is rising despite the fact that only 1% of world financial assets are in precious metals and that when the rush by fund managers to buy gold starts prices will go parabolic.