Real DOOM: Gold

[DimPrawn]

Hey thanks for re-posting. Very interested to see how these age. I stand by my $1200 or lower gold prediction.

In fact I see gold price action has formed a perfect rising wedge pattern. 70% of the time they breakout to the downside and when they do, 90% time they re-trace to where they started.

Why Gold Prices Are Hitting All-Time Highs - WSJ

[Andy2]

Why Gold Prices Are Hitting All-Time Highs - WSJ

you will not be laughing when gold hits $600 as predicted by our resident nostradamus

[scooterscot]

Give it time.. price action has been moving inside the same channel since 1975

Spot Gold price has almost 10x since 2001, whereas the FED balance sheet despite all the printing has managed almost 7x.

[Andy2]

Give it time.. price action has been moving inside the same channel since 1975

Spot Gold price has almost 10x since 2001, whereas the FED balance sheet despite all the printing has managed almost 7x.

with fiat currencies going down the pan due to massive money printing , gold is never going to $600.

[scooterscot]

with fiat currencies going down the pan due to massive money printing , gold is never going to $600.

What printing? Nothing new has been printed. The only new money in circulation is electronic. As it turns out the FED can delete that electronic money as quickly as they created it. None of the gold bugs will talk about this mind you.

By way of example - between 2011 and 2016 the FED printing press went into overdrive, they 2x'd the balance sheet with electronic money. Gold price action crashed by half from $2k to $1k in the same period. However, using your argument gold should have went from $2k to $4k, not $1k!

Point is, when gold price appreciates due to electronic money creation - it really does pay to do your homework.