Jim Rickards defended holding 10% of your portfolio in gold on Fox Business this week. Dagen McDowell aggressively challenged his argument that gold is the equivalent of an insurance policy for your wealth, but Rickards pointed to thousands of years of history supporting his investment strategy. Rickards also stuck with his forecast for the gold price to hit $10,000 per ounce sooner than later.
When people say gold is up, I don’t think of it as up. I think the dollar is down. In other words, you get less gold for your dollar, so the dollar is really down. If gold went to $10,000 an ounce – which I do expect – I wouldn’t think of it as a rise in gold, I would think of it as an 80% collapse in the dollar…”
Video Length: 00:07:33
Highlights from the interview:
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