We Are Very Confident In $1,700 Gold Before The Muppets Awaken
We Are Very Confident In $1,700 Gold Before The Muppets Awaken by Rory for The Daily Coin
Yes, we see the charts right now, but we also see, and hear, what is coming. I believe next week, when China returns from holiday, people are going to be shocked at what happens.
Please keep in mind what we say about gold goes double for silver. While gold is going to make a great run over the coming 24-36 months, gold is not going to more than double from here, but silver will. Mid-upper $30’s for silver, no problem.
We tend to agree with UBS’ on their latest call for $1,730 gold in 2020. We see gold moving north of $1,700 and have said so on a number of occasions. We see a new standard in gold beginning in 2020 and carrying all the way through 2023. We are on record as stating once this new standard is set there will be no turning back to what we see on the charts today. Gold is moving away from where it currently stands and is moving into new, unchartered territory.
Over the past several years I have turned away from the banking cartel and their forecast, however, my view has changed regarding this major oversight on my part. Who better to know what is going to happen, and when it’s going to happen, than the people who are actually “making the market”? These people, literally, push the buttons that make gold and silver go and then go down. They have all the inside connections, have the ability to call the people that own the buttons and levers that create the price and they can do all this, behind the curtain, away from those pesky journalist and reporters that should be reporting crimes.
The usually-conservative Swiss bank UBS has upped its forecast for the price of gold for the second time in less than two months.
Now it says the price for the yellow metal could reach as high as $1,730 a troy ounce next year, up $50 from an August forecast, a recent UBS report states. The note last month pointed to the possibility of $1,680 over the same timeframe.
If gold did soar that far it would be 17% above the recent price of $1,469.
The UBS report explains:
- “An environment of negative and lower-for-longer real rates, slowing growth with downside risks, and elevated uncertainty strengthens the case for holding strategic gold allocations.”
The bullish move comes after a brutal September where the price tumbled from a high around $1,553.
Negative interest rates are only a part of the bullish case, UBS says.
It also points to the fact that gold prices are not whipsawing around. Instead they appear to be moving in measured steps, albeit downwards lately.
The report notes that ETF holdings, such as those in the SPDR Gold Shares (GLD) have been growing steadily.
For instance, the Gold Shares fund held 890 metric tons of the metal at the beginning of September versus 923 tons on Friday, according to the GoldShares website.
The other bullish blessing is that most of the investor love for the metal has not come from individual investors. Individuals are well-known for buying and selling assets of any kind at precisely the wrong time. That means that their relative absence from gold investing is a good thing for investors who want to see the price of bullion rally. Source
What’s that? Retail investors, also known as muppets or Individuals are well-known for buying and selling assets of any kind at precisely the wrong time. Yeah, there is that aspect of what is happening right now and UBS is telling the truth right there. The retail investors / individuals, are well known for making the poorest decisions any one could possibly make. I have been pointing out six ways to Sunday about gathering in quarter ounce American Gold Eagles for the past 2 years, if not longer, and making a case for people to pick them up now. Why? Because they have ridiculously low mintages, especially, for the worlds most popular gold coin. Did you add at least one quarter ounce AGE to your stack the past 2-3 years? Why not? What about ATB’s anyone collecting these beauties?
For me it’s past time to see things a new. Beginning in mid-2017 my vision began clearing and I starting seeing things in a different light. I will continue looking through prisms and attempting to combine tried and true with something new. I’m not saying that it is always going to be right, but I believe it will provide me with a view unlike most other analyst.