Gold stalls in early trading, analysts evenly split on divining next big turn in the economy

Gold stalls in early trading, analysts evenly split on divining next big turn in the economy by Michael J Kosares for USA Gold

Gold looks stalled in early trading as investors continue to decipher the longer-term implications of central bank policy on the economy and financial markets. It is level this morning at $1710. Silver is down 11¢ at $14.96. A number of prominent analysts and fund managers have come forward with their forecasts over the past few days. The field is pretty much evenly split between those who think deflation inevitable and those who think inflation will be the next big economic concern. In both camps, gold increasingly receives mention as a logical portfolio alternative.

“As bad as the COVID-19 crisis is, and it is that bad, there’s one small positive to come out of it,” writes analyst James Ricards at the Daily Reckoning website. “It’s finally snapped investors out of their complacency regarding gold. I recommended gold at $1,100 per ounce, $1,200 per ounce, $1,300 per ounce, $1,400 per ounce, $1,500 per ounce and so on… you get the picture. But few people cared. They just yawned. Now that gold is $1,750 per ounce (up 75% since 2015), everyone wants gold! There’s only one problem. You may not be able to get any. That’s also something I predicted. I said years ago that when you most want your gold, you won’t be able to get it because everyone will want it at the same time and the dealers will be back-ordered and the mints and refiners will shut down. Now it appears that’s exactly what’s happening.”

Important client note:  Due to our long-standing relationships with key market-makers and our own inventory planning, we are still working from a strong inventory position and are able to deliver most of the standard gold and silver bullion items – American Eagles, Canadian Maple Leafs and Krugerrands.  Even our sources though are strained under the circumstances and our inventory, of course, is finite. We do not know, as a result, how long the supply will hold up. All deliveries are running on schedule with occasional minor delays due to the order and shipping volume, and we think you will find our pricing as advantageous when compared to most sources. The one thing we have no control over is rising premiums which, unfortunately, we have no choice but to pass along. Please contact us to discuss prices and availability. 1-800-869-5115 x 100

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