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In the current economic environment, is gold still perceived to be a vital holding in the minds of investors?

Robert Wiedemer
May 6, 2014
Video Transcript

There's a recent poll that came out that said in terms of America's trust for long-term investments, the number one investment was real estate; their houses. I guess no surprise, but number two was gold. It wasn't stocks or bonds or whatever. I thought it was interesting that a lot of people still liked gold. I don't know if that means that they're investing in it all the time, but the fact that there was a lot of interest in it tells me something. It tells me that people know more than they say, or at least Wall Street says, about an inherent appeal of gold, especially right now when we're in this sort of financially uncertain unstable time, not just in the U.S., but around the world. And it was brought home to me, when I was at a conference in Philadelphia with the family offices and these are wealthy individuals. A couple of the managers came up to me after my presentation and they said, "You know, if what you laid out here really pans out, I could easily see gold going to $10,000 an ounce." I went, "$10,000." This is a Mainstream guy. These are Mainstream money managers who some how inherently know that gold is going to have a huge appeal in a time of financial crisis. So yes, there is that "If...If it happens," but I think it's if you sort of see what I'm seeing, I'm not the only guy who sees this. I mean, Mainstream, Mainline guys see that same type of situation turning out. So, there is the "If" and he wasn't disagreeing with my scenario either, I might add. He wasn't necessarily ready to embrace it, because these are really stock and bond managers, but the fact that somebody like that could see exactly what I'm seeing and to a pretty high level -- high level meaning $10,000 an ounce -- that told me a lot about what people really think about gold and why I think gold could really take off once it starts to turn. Again, it's already been a pretty good investment, long-term. When this thing starts to take off it could really go.

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