Gold’s trajectory over the longterm is several thousand dollars higher, with an average target price of $12,500, and it only makes sense when you look at the historical growth of the metal, this according to Pierre Lassonde, chairman of FrancoNevada.

“If I use the compounded annual growth rate over 50 years, that’s got to give you a pretty good idea of where the gold price is going to go, and if you use that number, you get $12,500 in 30 years’ time,” Lassonde told Kitco News on the sidelines of the Denver Gold Forum.

Lassonde added that applying the annual average growth rate from 1970, the longterm projection would be $25,000.

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