Grant replied that he is surprised it is that high!
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Grant remains stubbornly bullish on gold with the view that the central bankers around the world are doing everything they can to destroy the value of their currencies and that in the end there will be a rush to gold as a store of value.
Grant is also bullish on gold mining stocks, especially the smaller ones which have been beaten down day after day for a couple of years.
A direct quote from Grant on mining shares is as follows:
"But you know when sentiment changes, the last shall be first, even as now the first have been last. So if indeed gold is going to pull itself off of its apparent death bed and revert to bull market form, which I believe it will, the gold miners will do quite well. Some will do spectacularly.”
I think I believe him.
See the full interview with Jim Grant here.