Is $2,000 Gold A Future Situation or A Historical Event?
Is $2,000 Gold A Future Situation or A Historical Event? by Rory for The Daily Coin
The picture gets clearer with each passing day we are entering a time of dislocation between the current global precious metals pricing mechanism and the physical metals. More and more articles, like the one below prove this point in the most obvious ways.
If you attempt to secure physical gold or physical silver you will not be able to acquire either metal a the established benchmark price set by the COMEX and LBMA – the metals do not exist at these artificial benchmarks. This, however, does not stop people from spilling ink in an attempt to justify something – not sure what it could be, other than the job they hold, because the numbers that are usually thrown around are either currently in play or the metals have just retreated from these high marks being referenced.
We have produced several videos over the past four weeks detailing what is available and what the actual cost of acquisition was at the time of publication. The numbers in the quotation below have been achieved and are currently in play. They are not something in the future, they are current as of this moment.
This is the problem I have with all the corporate media types, they only look at digital illusions or paper distractions and rarely take into account what is happening on the street. Once again proving just how disconnected from reality these people have become. These guys are talking about a future situation that is clearly a historical event.
According to analysts from TD Securities, after a period of stagnation during which gold prices may hover in the lower bound of the recent trading range near $1,700/oz, the yellow metal should see a resurgence in investor interest and move back on a path toward $2,000 and above.
“Spot gold has more than rebounded from the mid-March COVID-19 driven collapse and is now trading in a range near $1,700/oz. The yellow metal rallied along with risk assets following the reduction of extreme volatility, after the US Federal Reserve and other central banks announced measures to provide potentially unlimited support to credit markets and governments around the world provided countless trillions in fiscal support to keep consumers and corporations solvent. However, before prices move into a significantly higher range, a drift lower is a significant risk.” Source
This begs the question, where do we look for acquisition cost for precious metals? David Morgan suggested we acquire 1,000 ounce bars from the COMEX and have them melted down and made into kilo bars, 10/ounce bars and rounds to resale at a profit. Not a bad idea.
— David Morgan (@silverguru22) May 12, 2020
“The current price range near $1,700/oz or a selloff in the near-term should be considered as temporary, with the previously discussed bullish macro factors eventually set to take charge. Further, the fact that some six million oz of annualized mining gold production is shutdown due to COVID-19 measures and lingering logistical issues making physical shipments extremely hard, will likely serve as additional catalysts moving the price toward $1,900/oz before the yellow metal reaches escape velocity toward a $2000+ handle next year.”Source
The “bullish macro factors eventually set to take charge” are not only in place and taking charge but the $9 TRILLION bullish factor, created out of thin air by the Federal Reserve, has been unleashed and members of both Houses are begging for more. Gold is well aware of this and, to be perfectly honest, gold is kind of freaking out because when the bull escapes the pen it is going to run wild right up to higher and higher benchmarks either in the artificial arena of the COMEX and LBMA or out here in the real world where it matters. Got physical, close at hand?