Goldman Sachs lifts price target to $US 2,300
https://finance.yahoo.com/news/goldm...142054436.html
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Goldman Sachs lifts price target to $US 2,300
https://finance.yahoo.com/news/goldm...142054436.html
Targets mean nothing to me but im with the trend but starting to think about taking some gold profits soon.
"Gold the currency of last resort"
Too true, I don't know if anyone knows for sure. Historically it was probably yesterday when I caught gold fever and got wrapped up in the big rise and went out further on the risk curve.
My naive and uneducated basis for gold going higher is that central banks are not proposing anything other than lower (even negative) interest rates and money printing (there is no limit to money printing - Jerome Powell).
Governments are spending up large. I think in the USA some are saying that deficits don't matter any more and it doesn't look as though Japan or the US govts. have any intention of paying back their borrowings. They "have to have inflation" to take care of their debts.
How it ends I am unsure as current economic thinking and monetary policy are at historic extremes. It seems like a ponzi scheme that requires more and more printing and lower and lower rates every time there is a crisis (a trend since the 1980s) with no will by voters or anyone in power to change course. So I am picking that gold prices might get extreme as well, as long as central banks keep printing money and suppressing interest rates(markets should decide this price imo) and continue to hold gold. Why central banks continue to hold gold I am unsure but it probably helps to keep faith in currencies somehow.
On the other hand it could be an increase in uneducated speculators like myself pushing up the price and they will drop it like a hot potatoe as soon as it goes out of fashion.
Those smack downs over the last couple of days...is that massive sell offs for profit takers or "suppression" to hide something...*reaches for tin-foil hat*
The day after posting this I got an email from Betashares pointing out their gold, currency hedged, ticker:'QAU' and gold miners, currency hedged, ticker:'MNRS' offerings.
Either Betashares read this forum and know who I really am or it is just one of those co-incidences that seem to happen more often than not, as per Terry Pratchett's "1 in 1,000,000 longshots work out 9 times in 10".
Anyways I bought some MNRS on the back of all that research, have a little profit already and will watch the price action closely like a sleeping leopard.
It will be interesting to see how the gold speculating goes compared to the crypto, tech-specs and proper investments in shares and even term deposits.
Thanks for your last post Snow L.
I have been getting into gold stocks. I don't put a lot into any particular stock, but have about 14 co's ATM.
This way if one or two fall over it won't hurt as much as it did in the past.
I've just finished filing the paperwork for these stocks and it is a pain.
I checked out MNRS you mentioned and it would take a lot of the hassle out of the equation, so intend to drip feed into this now.
I spend a lot of time reading about the future of things financial, and the future is looking good for gold, but watch the fraudsters come out of the woodwork from now on.
Be careful out there
cheers all
Sparky
Inflation and Covid fears push gold over $US2000. The surge in price also occurred after the horrendous Beirut explosion. If the explosion was not an accident, Perhaps also the spectre of increased geopolitical instability is nudging it higher? Also the average portfolio allocation to gold at 3% is not particularly high, given the current state of interest rates
https://www.ft.com/content/566dd8f7-...4-b20f7f0f283e
Been Huge Gold Buying for the last decade ,,just recently the paper market is catching on...
https://theconversation.com/countrie...res-why-138173