Here are links to a couple of articles I’ve posted in the past few days on the Sharps Pixley website for which I am a contributing editor;
The first looks at gold’s performance despite some seemingly concerted attempts to knock the price back – a subject I’ve commented on before. These look to have failed – at least in terms of making a major permanent dent in the metal price, although the mere process of knocking the price back – even if only for a very short time – may indeed make potential gold investors more cautious. The article is: Even another flash crash can’t keep gold price down. Click on the title to read it.
The second looks at predictions for gold at $5,000 and then $10,000 from a couple of the more rational gold bullish commentators and why their predictions will almost certainly come about – over time. It’s just a matter of how long it will take for these levels to be achieved which is in doubt. I point out in the article that in terms of the yellow metals’ past performance these estimates are not only reasonable, but perhaps conservative. As I point out in the article, in my lifetime gold has risen from an admittedly controlled $35 an ounce to over $1,900 at one point – a 54x increase – and over 37x to the current price level. Even a 37x gold price rise from the ca. $1,320 where its stands today would put it at over $48,000 – probably unlikely without some kind of global catastrophe, but at least it puts a rise to a mere $10,000 into context – only around a 7.5x increase from where it is at the moment!”
To read the full article, click on $5,000 gold – then $10,000. Gold bulls sing from same songbook