While Eurobonds have survived everything from the Cold War to the worst financial crisis since the Great Depression the 82-year-old retired trader said he is “very, very bearish about what is going to happen in the very near future,” to the world economy. In part because of the printing of money by world central banks to stimulate their economies, he said.
“Within a year you will see gold at twice the price it is now,” Ross said.
In one of the most bullish gold calls since the Federal Reserve announced a new round of easing last week, one strategist sees a 36 percent jump in the metal’s price to $2,400 an ounce, by the end of 2014.
“The combination of open-ended MBS purchases and the possibility of additional Treasury bond purchases starting in December could further lift gold prices by adding over $2 trillion to the Fed’s balance sheet over the next two years,” explained Blanch in his report entitled “Gold Under QE-Infiniti.”