Will Gold Reach $1,400 in 2017?
Will Gold Reach $1,400 in 2017? by Rory, The Daily Coin
Gold is looking at a 4 year high, according to Economic Times – IndiaTimes. As the US Mint continues to report a serious drop in gold and silver sales of all coins the East, primarily China and India, is grabbing gold and silver with both hands. Gold and silver are money. With the confirmation of markets being rigged to the down side while the global and local economies move deeper into a depression, this creates a perfect storm to encourage people that already appreciate and understand golds true value and purpose.
With the Bureau of Labor Statistics disappointing report on Friday June 2, confirming what most people already know, the U.S. economy is absolutely in an economic depression. The rest of the world, outside the West, seems to be ramping up their efforts to protect their wealth. This will continue to push gold and silver to higher ground throughout 2017 – in spite of the fact these markets are 100% rigged.
Gold may extend gains after climbing to the highest level in six weeks following disappointing monthly reports on US employment and wages, according to two analysts attending a conference in Singapore this week.
Prices will probably increase to a four-year high above $1,400 an ounce this year as a “less than inspiring“ recovery means the Federal Reserve won’t step up the pace of increases in borrowing costs, leaving real rates in negative territory, according to Nikos Kavalis, director and founding partner of Metals Focus, an independent consultancy . Toronto Dominion Bank’s Bart Melek said gold may touch $1,300 with a $1,275 average in the fourth quarter. Source
While the U.S. based globalist continue to transfer the remaining wealth from the middle class it seems the populace are completely asleep at the wheel or they believe the rest of the world will crash and burn but their wealth will somehow be spared the wealth transferring policies instituted by the Federal Reserve, federal government and too big to jail banks. It seems most of the citizens still believe the government is looking out for their best interest and Trump is going to ride in on a white horse and save the day. He won’t.
The Federal Reserve has stated there will be more interest rate hikes throughout 2017 and I have heard it said the next rate hike is “baked in the cake” with several of the too big to jail banks betting a rate hike to imminent while others, like Goldman Sachs, seem to be betting against a rate hike.
If the Federal Reserve does raise interest rates this would be good for gold. Gold loves change and gold signals change to monetary policies, hence the people in the East scooping up gold at near record levels with all the monetary manipulations they have endured over the past year.
India’s gold imports in May surged fourfold from a year ago to 103 tonnes as jewellers in creased purchases to replenish inventory and stock up ahead of the rollout of the Goods and Services Tax (GST), provisional data from consultancy GFMS showed. The rise in im ports by the world’s second-biggest consumer of the precious metal will likely support global prices that are near their highest in six weeks. Source
Will gold continue to climb? It should. Will the people of the U.S. ever awaken to help push gold to higher ground? I doubt it. Personally, I believe the American populace will jump on the crypto currency band wagon as Americans have proven time and again they love to buy high and sell low – quiet the opposite of actually building wealth.
In the meantime, the people that understand gold and silver should be acquiring and following the lead of the citizens in the East, where the new middle class is emerging, gold and silver in hand, as the old middle class continues to be strip-mined of their wealth and everything else of true value; e.g. liberty, freedom and security.