By SIMON CONSTABLE
Gold prices have just smashed through the previous all-time record high around above $1,920 a troy ounce which was set in 2011. Bullion was recently fetching $1,942.
The rally is almost certain to continue for at least a while. But some gold bulls may have gotten a little too exuberant. Some see it going as high as $10,000 an ounce. Even if that does come to pass, don't expect it to last even as long as a day. Read more here.
Gold prices have just smashed through the previous all-time record high around above $1,920 a troy ounce which was set in 2011. Bullion was recently fetching $1,942.
The rally is almost certain to continue for at least a while. But some gold bulls may have gotten a little too exuberant. Some see it going as high as $10,000 an ounce. Even if that does come to pass, don't expect it to last even as long as a day. Read more here.
1 comment:
Simon, I am not a gold bull who has been wrong for the last 50 years, actually I became a gold bull 5 years ago after being a believer in stocks/bonds/cash for almost 30 years. Your analysis is not very convincing because you’re only trying to bash people who have been wrong for too long but you failed to recognize that all major fiat currencies have crashed against gold during the last 50 years, the world financial/economic conditions are much different now than in the last 50 years, for instance, the amount of global debt is huge now like never before, there’s no price discovery anymore as Central banks around the world have decided to manipulate interest rates, so we have been kicking the can down the road but the road is coming to a dead end. On top of all that we are in the middle of perhaps a depression which might get even worse if a successful vaccine isn’t found soon or if the US elections get out of hand. Thus, even though I am not one of them, those calling wolf for too long might be right this time.
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