Gold expert James Turk: "Gold is still under value"
Nine months ago James Turk, founder of GoldMoney.com explained to DAF, that the gold price will climb up to 8.000 dollars between 2015 and 2018. By now the price might be even higher in 2015, due to the debasement of the currencies.
"You have to compare gold to other types of monay - the euro, the dollar, the swiss frank. As we have seen the central banks make decisions to debase the currencies. Last week it was the Japanese Yen, when the central bank intervened and debased the Yen to other currencies", gold expert James Turk says at the International Precious Metals & Commodities Show in Munich. The new ECB president, Mario Draghi, isn't delivering a pleasing result - more the opposit says Turk: "By now he (Mario Draghi) made everything even worse. The inflation in Europe is at three percent. I think it's even higher. Instead of raising the interest rates to protect the purcasing power of the euro, he lowered them as his first act as president of the ECB."
Turk advises investors to start saving gold and silver, because he expects the crisis to become even worse.
Looking for the German version of the interview click here.
Redakteur: Christine Völkel