The Gold Bugs....Ya Gotta Love 'Em....
Well, the gold bugs are at it again. It seems that every time that the price of gold ticks up with any sort of momentum at all they become a little giddy. I don't think at the moment there is anything to be giddy about just yet. Yes, gold is certainly rising this past month.
Will it continue to do so?
Who knows. Right now it is approaching a level (as you can see below from the technical chart) where is has been whacked back down time after time for the past ten to eleven years.
Will this be the time that gold makes a breakthrough and heads higher?
The honest answer is, "no one really knows". Not even Jim Rickards who claims that gold might just break above 9500 heading to a resting spot of 10,000 possibly as early as June 16th, 2019.
Do I believe him?
Well in truth I have no reason not to believe him. Maybe he is deeply on the inside as he claims to have special knowledge of what the big boys are going to do before they do it? I don't really know.
This is not the first time I have heard him make this exorbitant claim and so I do not put much weight in the equation.
The technical reason that Gold is rising now is none other than the US Dollar falling. You know I told you about this a few months back and yes it is now falling in earnest to the lower end of its sideways range.
Could gold go to 10,000 an ounce?
Yes, it could. The only reason it might do so is for the reason that this reset that Rickards is talking about has to anchor the new currency to something and so gold is as good as any mineral. The reset would likely rob every saver of his savings and reward the debtors. This is his claim and I suppose in this sort of scenario he might be right. After all the inflationary effects of such a move on currencies would be incredible.
I don't really know whether they will do this or not but I might just take a position in gold to see if such a scenario might unfold.
Debt is a problem as I mentioned before. It would be for this reason that the powers that be would take such an action and I suppose they could.
People, in general, don't like debt. I don't blame them as it serves very little purpose. It makes it hard to stay solvent when things are as they are at the moment.
So if you are thinking of playing this to the upside I suspect that you may wish to get hold of some gold bullion or gold coins as this is the general safest way to play your bet.
As for me, I am doing nothing at the moment but may act if the conditions ripen a little more. Lowering interest rates are on the table once again and this signifies QE is likely not that far away.
Cheers!
Will it continue to do so?
Who knows. Right now it is approaching a level (as you can see below from the technical chart) where is has been whacked back down time after time for the past ten to eleven years.
Will this be the time that gold makes a breakthrough and heads higher?
The honest answer is, "no one really knows". Not even Jim Rickards who claims that gold might just break above 9500 heading to a resting spot of 10,000 possibly as early as June 16th, 2019.
Do I believe him?
Well in truth I have no reason not to believe him. Maybe he is deeply on the inside as he claims to have special knowledge of what the big boys are going to do before they do it? I don't really know.
This is not the first time I have heard him make this exorbitant claim and so I do not put much weight in the equation.
The technical reason that Gold is rising now is none other than the US Dollar falling. You know I told you about this a few months back and yes it is now falling in earnest to the lower end of its sideways range.
Could gold go to 10,000 an ounce?
Yes, it could. The only reason it might do so is for the reason that this reset that Rickards is talking about has to anchor the new currency to something and so gold is as good as any mineral. The reset would likely rob every saver of his savings and reward the debtors. This is his claim and I suppose in this sort of scenario he might be right. After all the inflationary effects of such a move on currencies would be incredible.
I don't really know whether they will do this or not but I might just take a position in gold to see if such a scenario might unfold.
Debt is a problem as I mentioned before. It would be for this reason that the powers that be would take such an action and I suppose they could.
People, in general, don't like debt. I don't blame them as it serves very little purpose. It makes it hard to stay solvent when things are as they are at the moment.
So if you are thinking of playing this to the upside I suspect that you may wish to get hold of some gold bullion or gold coins as this is the general safest way to play your bet.
As for me, I am doing nothing at the moment but may act if the conditions ripen a little more. Lowering interest rates are on the table once again and this signifies QE is likely not that far away.
Cheers!
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