The first time Nick Barisheff, president & CEO, BMG Group spoke at the Empire Club was in 2005 and he said then, that it would not matter to bullion investors if gold ended the year at $400/ounce or $500/ounce, based on the long-term price outcome. Gold ended the year at $513.
Gold had a good year in 2019, rising about 18%. Since 2000, gold has averaged 11% annually in the major currencies, with 9.7% in USD and 8.8% in Canadian.
As we enter 2020, the question we have to ask is: How close to the edge of the cliff do we dare to go?
In his recent speech, Barisheff provides an outlook for gold at the Empire Club of Canada forum.