How Gold Could Soar to $5,000 an Ounce - or More?
The last time the economy was this bad - during the Depression - the Dow sank to 36 and gold rose to $36 - a 1-to-1 ratio. In 1980, after the huge stock downturn of the ' 70s, the Dow and gold met at 850. Today the Dow is rapidly falling, down 50% from its peak of 14,164 set in October 2007. Gold is soaring once again, retesting historic highs. If they meet somewhere in the middle, that point could very well be 5,000, according to legendary bear market analyst and millionaire investor Peter Schiff (the man who accurately called the last 4 major market corrections) . Indeed, he sees the 1-to-1 ratio returning again, and soon.
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