How much higher can gold go? Bank of America raised its 18-month target price to US$3,000 an ounce, due to dovish central bank policies; Goldman Sachs analysts have their eye on $2,300, based on similar concerns over currency debasement.
Spin it up, Boys! Spin it up high! The Labor Department should go into the money-laundering business because they own the fastest-spinning, number-washing machine out there.
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Many believe July 2020 was one for the gold history books, but it wasn’t even a top 10 move in gains for gold historically. In fact, last month’s big move in gold to all-time U.S. Dollar highs was the 23rd best spot monthly return. Let that sink in.
The spot gold price crossed $2,067 dollars per troy ounce today, another all-time high. Since the 1930s the U.S. dollar has lost 99% of its value against gold.
The dramatic ascent of precious metals markets this summer reflects what could be just the start of a longer-term decline and fall in the Federal Reserve Note's value and status.
Though there is clearly no “V” in the economy, there has been a “V” in stocks (though it appears to be starting to sputter out); but how does this rocket rally compare to famous “bear-market rallies” that plunged even lower in the end..
We've been writing about this for months, but with so many generalists still pushing the opinion that gold only moves as an inverse to the U.S. dollar, it's time to write about it again.
The Swiss population owns 920 tonnes in private gold, next to 1,040 tonnes in official gold reserves. In total, Switzerland likely has the highest amount of gold per capita in the world.
Could the Fed override it all and keep the markets heading ever skywards by pumping more and more? – maybe – but as I’ve pointed out here they may not want to..
