Gold prices will top $10,000 per ounce, the stock market will tank and Treasuries will yield less than 1 percent, Societe Generale's Albert Edwards forecast in a trademark bearish report on Thursday.
"My working experience of the last 30 years has convinced me that policymakers' efforts to manage the economic cycle have actually made things far more volatile. ... The current round of quantitative easing will be no different," said Edwards in a weekly strategy report. ...
"Gold corrected 47 percent from 1974-1976, before rising more than eight times to $887 per ounce in 1980. A steep correction is normal before the parabolic move. ... Holding gold is a bet against central banks competency and given their track record that is certainly a bet I'd be happy to still take," he said. ...
"In that vein, we repeat our key forecasts of the S&P Composite to bottom around 450, accompanied by sub-1 percent U.S. 10-year yields and gold above $10,000."
"My working experience of the last 30 years has convinced me that policymakers' efforts to manage the economic cycle have actually made things far more volatile. ... The current round of quantitative easing will be no different," said Edwards in a weekly strategy report. ...
"Gold corrected 47 percent from 1974-1976, before rising more than eight times to $887 per ounce in 1980. A steep correction is normal before the parabolic move. ... Holding gold is a bet against central banks competency and given their track record that is certainly a bet I'd be happy to still take," he said. ...
"In that vein, we repeat our key forecasts of the S&P Composite to bottom around 450, accompanied by sub-1 percent U.S. 10-year yields and gold above $10,000."
More information can be found online at http://www.goldbullionadvisors.com
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