Gold remains the most undervalued trade in global financial markets, this according to Thomas Kaplan, chairman of NovaGold and the CEO of Electrum Group. In this exclusive interview with Daniela Cambone, the reserved billionaire, considered a “Renaissance Man” by many – as he holds the largest collection of Rembrandts in the world and is involved in various philanthropic ventures – explains how gold is in a long-term secular bull market.
“Gold will be the greatest generational trade,” Kaplan said, adding that the next leg up for the yellow metal will bring its price between $3,000 to $5,000 an ounce. Kaplan also gives his thoughts on central banks recently adding to their reserves, “When central banks buy gold, it is like insider buying.” Central banks were net buyers of 8.4 million ounces of gold during the first seven months of this year.
