Upside for gold continues due to mindless monetary policies: Eveillard
Storied value investor Jean-Marie Eveillard says that the upside for gold will continue as long as the monetary polices of the world's central banks remain "mindless."
In an interview with King World News Eveillard, who has $60 billion under management, says that EU central bank head Mario Draghi and US Fed chairman Ben Bernanke are already committed to an expansionary monetary policy, and that the Japanese could very well join them due to concerns over a strong yen which impedes exports.
According to Eveillard the potential upside for gold of "mindless" monetary policies" could be huge:
As long as the monetary policies continue to be mindless, the upside (for gold) continues. I don’t know how high is high(for the price of gold)? If governments try to make ownership of gold difficult or impossible, it will be much more difficult to do so than it was in the time of Roosevelt in the 1930s.