If Davies' current call is as accurate as his last one, The Doc's $70 silver by the end of 2011 prediction is in the bag.
"This is not one I want to fight, the market is a little bit rich now in the short-term, but this could be the baby that takes us over the course of the next four months to that very tantalizing level above $2,000. I really think this is the move.
People are really beginning to realize that it (gold) is the currency of first resort. As a prudent risk manager I’m always looking for the sucker punch, but I just don’t see it here. I think that Ben Bernanke has come out again and tacitly said that QE3 or some change of policy along those lines is definitely in the cards. I think deep down we’ve all known that would be the case.
I think there’s a really high chance, this is the year that you do not want to fight the gold market. This is a trend that you just have to bite the bullet and be invested and go with it, I feel very strongly about that.
Various liquidity is going to be coming from all corners of the world. At no time has gold pulled back throughout any of this credit tightening process, the market is going higher. We are in my opinion going to see a $2,000 handle this year.”
Click here for the rest of Ben Davies' interview with KWN:
