Full Video Transcript Below:

CAROLINE WOODS: So how much does it have to fall to be at a price that makes sense to you?

CARLEY GARNER: I’m going to throw some kind of shocking numbers out there. But gold is not the kind of market that correct 5% or 10% When gold goes into correction. It’s 45, 50% In the 80s, we saw 70% plus correction. Gold is a very boom or bust commodity. If you look at gold. Let’s just take since 2011 through today. Gold has gone up on average 6% a year. But almost all of those gains have occurred in about three years out of the last 15. So if you take away the really big dramatic gains like we’ve seen in the last couple of years in gold, it actually hasn’t performed all that great. So it’s a market that has to be timed well unless your holding period is multiple decades, not years or months. OK, so we can see a really huge downturn with 40, 50% possibly. If gold behaves the way that it has in the past, we could easily see 2000 again in gold. I know that sounds almost impossible to most people, but that’s how gold behaves. And that would be basically taking back this entire rally and starting from scratch where it broke out. And believe it or not, I think that is not just prop, not just possible, but probable.