Jeff Clark: Gold’s Next Target is US$2,500, Fuse is Lit for Junior Miners

The gold price has pulled back from the record-setting levels seen earlier this year, but Jeff Clark, editor of Paydirt Prospector, believes the yellow metal will continue moving upward in 2024.

“The next target or level is US$2,500 (per ounce), and I do think we’ll get to that this year because history tells me we will. We’ve had a 38 percent rise in the gold price in this upcycle … but the average upcycle is much higher, and if this upcycle were to end now it would be the lowest in history,” he told the Investing News Network in an interview.

“I’m forced to believe because of history that this trend is going higher … let’s say I have a high confidence level that gold is going to breach the US$2,500 level this year,” Clark added.


He also shared his thoughts on silver, saying that it’s following gold but as usual outperforming.

“If we’re right about the gold bull market, the uptrend continuing, then we should expect silver to do that as well, and to continue to outperform gold,” Clark said, suggesting that US$40 to US$50 per ounce is reasonable in the current bull run.

“And then ultimately I think silver is going higher than that. Its inflation-adjusted price, by the way, is right around US$75 using the consumer price index. If you use John Williams’ Shadowstats it’s triple digits. So US$75 silver on a two to three year time frame is I think reasonable to expect,” he outlined, again saying that those numbers are based on history.

Clark noted that sentiment in the junior resource sector hasn’t improved as much as might be hoped.

“But,” he said, “I think the fuse has been lit, because once gold starts to move then the money will move down into the producers, then developers and then the juniors. That’s very typical, we’ve seen that happen throughout history.”

Watch the interview above for from Clark on gold, silver and the exploration space.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

From Your Site Articles

Related Articles Around the Web


Comments are closed.