$3,000 Gold Price Forecast from Merrill Lynch/BOA

Randy, not sure how much closer to $2k gold we can get without going over $2k, but my schooling taught me that rounding would call this $2,000.....

 

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Gold be pumpin' like crazy, makes me smile!

 

Yeah, only negative is that it typically signals bad things for everything else we have to spend our money on though.

 

This my friend, is going to be proven to be the understatement of the decade. It's about to get real.

 

Yeah…. I was trying to be nice!

 

Not really, not since the 1970's which really was a bunch of 1-time occurrences which can NOT be replicated today.

 

$2,003...up $57....continues to benefit from flight-to-safety buying.

Just like some of us here look on in amazement at the opportunity to buy gold and Saints at $500 per coin 1999-2000....or $100-$200 in the early-1970's.....in a few years, certainly by 2030, I expect new posters here at CoinTalk to lookg back in amazement at the fact that gold and Saints were just laying at $2,000 or so for YEARS and nobody pounded the table.

Same people here who won't buy today will be saying "I'm not buying an MS-65 common at $5,500....I'll wait until it falls to $4,500."

 

I've heard rumblings of increased central bank demand from Russia, China, and a slew of other buyers who are quietly accumulating gold reserves as a preemptive defense against the weaponization of the dollar via sanctions. That, coupled with recent haven demand in the wake of bank failures as well as increased interest from those seeking a hedge against inflation, makes a higher equilibrium price seem inevitable.

Just my two cents, of course

 

It shouldn't be rumblings, we should be able to see actual data pretty soon.

This article says 2022 was biggest in decades....but data is lagged, and some CBs don't report:

https://www.reuters.com/markets/commodities/central-banks-bought-most-gold-since-1967-last-year-wgc-says-2023-01-31/#:~:text=The central bank purchases took,global gold demand by segment.

 

Hard to gauge the data ups and downs in the market and PM,S in general due
to the pandemic, a good example is caravana which is heading for bankruptcy
due to the fact they bought allot of cars during the pandemic and there was no
new car inventory so people bought used cars now with supplies near normal
levels they are taking a loss on just about every vehicle they bought in that time
frame, I like GOLD so will continue to make monthly purchases in onces not pounds...LOL

 

CVNA's plight has very little to do with the end of the pandemic. The horrific drop in the stock price is a result of the NASDAQ implosion...rising interest rates...and MOST importantly, all the debt the company has.

They needed to right-size the balance sheet when the stock price was $300/share. These guys got greedy and tanked the company.

 

edited

I was basically point out the difference between the then and now, had to wait 45 minutes at Chills for dinner tonite, one waitress serving an entire restaurant
these staff shortages are just insane !!!

 

edited

Yup, definitely things changed....nobody wants to do anything away from a keyboard anymore.

 

The bottom line is no one wants to work

 

It's a brave new world...imagine if what we saw with SVB with $150 billion trying leave a bank in 2 days were to happen with gold inventories or gold paper.

What happens if tens of milions of Indians decide to grab gold futures or options ?

You could see gold up $500 in a day.

 

What would happen if the queen had kahones?
She'd be king!

The 'what if' game can be played ad infinitum.

 

We've seen spikes and upside panics with bonds, stocks, meme stocks, silver, palladium, etc......only gold hasn't seen that kind of move.

It's coming, I just don't know when.

 

We've certainly seen the downside panics with stocks, meme stocks, platinum and palladium, also.

Eventually you'll be right GF'69. I have no doubt about that. My problem is when? And playing the panic button with regards to pulling the trigger is not an investors game. It's a gambler or speculators game. Too volatile for me. And, it pays no interest or dividends.

 

I have been resolute in stating that PMs and coins are NOT investments. So I certainly don't recommend buying in hopes of catching a lucky, totally unpredictable, completely random buying panic in the physical or paper commodity that dominates the headlines for a week or so.

Maybe it's a huge short-selling SWF or CB or institution that is forced to cover (like Melvin Capital on GME) and has to buy a few hundred tons of gold in a week. I dunno...

I just think it will happen. When, I have no freakin' idea. Could be next few months or year or so and take gold from $2,000 to $2,500. Or it could be 2030 and take gold from $3,000 to $5,000.

I just hope I have alot more gold by then whenever it happens.