$1900 Gold
derryb
Posts: 37,314 ✭✭✭✭✭
Before the next bigger move?
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
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I heard of some folks on another forum talking about the "Penny-Point"
When/if gold moves to $2,067, it will be 100 times more than it was in 1933. ($20.67 /oz)
That means one 2020 dollar buys only a cent of a 1933 gold dollar.
A 99% devaluation in terms of gold
To answer your question...
Nope, I think it will go up slowly until the election, probably not that much more.
Maybe $2,200 ???
My Saint Set
There are several variables at play right now.... politics, disease, financial turbulence, geo-political maneuvering... History (gold vs. dollar) is interesting... but we live in the present (and must understand history, of course). We cannot change what is past (though some think it is possible), however, we need to understand and learn from it. Then apply it to current situations and perhaps understand what may occur. Cheers, RickO
Unfortunately, history has shown us that PM fundamentals matter until . . . wham!
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
watching closely for a wham signal at the moment. ZSL in the batter's circle as AGQ rounds third.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
third base coach held the AGQ. ZSL back on the bench, for now.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
Uncertain time ... Uncertain spikes ... Uncertain lows.
I'm locked in and ready for some real velocity.
The higher the price moves, the wider the price swings will become.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
We just passed the "Penny-Point" today.
Now it is back down a bit.
My Saint Set
Dollar looks oversold to me currently and ripe to bite a bunch of people, expecting a pullback in metals myself. Good time to shake off some some weak gold/silver buyers before the next leg up. Best way to maintain perspective is to always look at both sides.