May 03, 2018 Guest(s): Gerald Celente Publisher, The Trends Journal
Equity markets are overvalued and overleveraged, and a crash on the scale of the last recession could be on the horizon, said Gerald Celente, publisher of the Trends Journal.
Celente told Kitco News that one possible trigger for such a crash could be an escalating war in the Middle East. "If we have a war that involves Iran, kiss the markets goodbye," he said.Celente added that in such a scenario, oil prices could spike to $150 a barrel.
On economic growth, the economic forecaster said that growth in the U.S., particularly when it comes to retail sales, is not as strong as it could be.
Celente said that given the myriad of risks for investors, now would be an ideal time to buy gold.
"I believe that there is no greater safe haven right now than gold," he said.