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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.68+5.0%4:00 PM EST
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To: Hawkmoon who wrote (38179)8/2/1999 5:38:00 AM
From: paul ross  Read Replies (3) of 116753
 
Excerpts from an interview with Martin Armstrong in the May 31,1996 issue of Silver and Gold Report, edited by James DiGeorgia.

Martin Armstrong:

>>>>You're going to see oil most likely reach the $60-$80 range over the next 2 to 3 years...
...Roughly, there's a 64-year cycle in gold, which is due for a peak around 1998. The last peak came in 1934 when gold was rallying substantially and Roosevelt was confiscating it.
Before that, you had the gold panic of 1869 when we first went off the gold standard. Prices rallied up to $162 on the NYSE back then. That's the equivalent to nearly $10,000 in today's terms!
What I find interesting is that every time this 64-year gold cycle pops up, it tends to earmark periods of crisis in the currency exchange rates...
Looking down the road further-say two years- I think gold will likely test its 1980 high by 1998, perhaps even the $1000 range by then, and then higher into the year 2003.
Platinum looks even better. I wouldn't be surprised to see it approach $1800-2000 level in the next two years.
I am not as optimistic on silver, but I expect it to break through the $8 level. Silver could move in sympathy with gold and platinum. It might leap over the $10 mark in the next few years.<<<<<
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