Will Gold Double – Move Towards $3,400 Or Will It Move Even Higher?

Will Gold Double – Move Towards $3,400 Or Will It Move Even Higher? by Rory for The Daily Coin

Is $4,000 in the DNA of this current gold bull run? I have been saying $3,000 gold by fall so, $4,000 gold represents an additional 33% move to the upside. Is that possible, reasonable and within the realm of reality? We think it is easily in the realm of reality.

If we use recent history, the 2008 flash point that began the Greater Depression, which was followed by the Federal Reserve unleashing their “money printing” called Quantitive Easing (QE). The Fed. digitally produced more than $5 trillion, that was actually reported, and pushed that into the too big to jail banks. This happened over the course of a 3 year timeframe. In turn gold ran to an intraday high of $1,920/ounce gold. The year this happened, 2011, gold averaged $1,670/ounce for the entire year.

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Beginning in September 2019 the Fed. has not introduced more than $9 trillion worth newly “minted digital currency” that has been primarily shoveled onto the too big to jail bank ledger sheets. We are now talking about almost double what was previously produced by the Federal Reserve and we are also framing this massive injection of monetary heroin in a matter of 8 months instead of 3 years. The Federal Reserve has a lot more “digital money printing” in the very near future.

This is to say nothing of the global economic shutdown that has only just begun to show the first signs of true damage. Six months from now we will begin to have a sense of the scale and the volume of carnage this global experiment has created. Looking at some of the data that is beginning to pour in, the Great Depression that occurred during the 1930’s is going to look like high-times and massive prosperity in comparison to what is coming down the pike. Let’s not forget the Federal Reserve is not alone in the “digital money printing” scheme, central banks around the world are all doing the same thing in an attempt to steal as much of the remaining wealth as possible.

Gold is already sniffing this out and will be exposing the reality over the coming year. We are going to see massive demand for gold come this fall when the planned second wave of Wuhan bat-flu stew is rolled out. Gold is going to reach for the stars. I am not alone in this belief.

Central banks around the world have slashed interest rates and announced trillions of dollars in stimulus packages to support economies against Covid-19. Financial markets have also recovered somewhat of their losses after hitting record lows.

Gold prices on Friday closed 0.7 per cent or $11.66 an ounce higher at $1,700.40. The price is up by 3.88 per cent in the past month, 12 per cent in the past six and 33 per cent over the last year.

According to Saxo Bank, the yellow metal had gained over 180 per cent in the three years after 2008 financial crisis. Hansen, however, didn’t rule fully out a similar leap in gold prices over the next three years.

“I am not calling that gold is going to $4,000 but giving simple comparison with 2008 when quantitative easing kicked in, gold had rallied 182 per cent the following three years. If it repeats this time again, we can go to $4,000-plus in the next three years. That is a tall order but we have seen over 180 per cent moves earlier following a major interventions by central banks. So it is obvious, we cannot rule it out completely. In short, $1,800 or $1,900 an ounce will be the next key level,” said Hansen. Source

People around the world are growing weary of the overreach from their government. This is has been growing for the past several years as we have seen uprising after uprising all across Europe, South America and now the United States. People no longer trust their government and they no longer wish to live under a so-called “progressive” rule with open borders, a dismantling of their heritage and the absolute theft of their wealth. People are beginning to push back, stand up and grow angrier as the days go by. Gold is sniffing this out as well.

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The combination of “digital money printing” on a global scale, uprisings on a global scale and economic collapse unlike anything in history on a global scale, yeah, gold at $4,000 is pretty much a no brainer at this point. Where else are you going to park your wealth? Real estate, art, collectible wine, antique cars? Gold is what makes the most sense.

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The Daily Coin

Rory Hall, The Daily Coin and Gospel News Network. Beginning in 1987 Rory has written over 1,400 articles and produced more than 500 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Gold Seek, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Dr. Warren Coates and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Gospel News Network to enjoy some of the best economic, precious metals, geopolitical and preparedness news from around the world.