Dennin talked about gold’s trajectory, where the next bubble might not be, the role of cryptocurrency and the future of uranium.
Interview by Charlotte McLeod, article by Scott Tibballs.
Speaking with the Investing News Network (INN) at Mines and Money London, Dr. Torsten Dennin said that despite a lackluster few years in precious metals, prices could rocket in coming years.
“(The) last three to four years have been pretty boring on the gold side I have to confess, as it has been in the commodity sphere in general. But lots of analysts pointed out that this year we’ve seen some technical breakthroughs in the gold price. It was rather useful to have the gold price headed up above US$1,400, targeting US$1,500.
“We could see — probably not next year — but in the next couple of years prices between US$2,000 to US$2,200 in regard to the economic situation,” said Dennin.
Dennin is head of Asset Management Switzerland and a professor of economics and finance. He also moonlights as an author, so he keeps busy writing books such as “From Tulips to Bitcoins: A History of Fortunes Made and Lost in Commodity Markets.”
Dennin talked about the lessons that can be learned from history. Long story short: “Readers can digest the history, and if the old saying is right, history is not repeating itself, but definitely it rhymes, so we can spot bubbles.”
Speaking of bubbles, Dennin offered his thoughts on what the next bubble might be, and gold-lovers should be pretty happy with his take. “Definitely not in the commodity space. When you’re looking at gold prices, copper prices and crude prices, when you put all the commodities together, relative to equity they are on a super low level.”
He also talked about the role of gold and cryptocurrencies as “safe haven assets” for different generations, and gave his thoughts on the uranium space.
Dennin said that given the need for an increase in energy production globally, uranium had a part to play, though there was no need for an immediate rush into uranium as it’s still a contrarian commodity.
Listen to the full interview with Dr Torsten Dennin above.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
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