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

Discussion in 'Bullion Investing' started by GoldFinger1969, Apr 21, 2020.

  1. GoldFinger1969

    GoldFinger1969 Well-Known Member

    The problem is that the economy is changing SO MUCH and SO FAST that it pays to look at non-dividend payers and dividend growers. The reliance on the old value sectors -- Consumer Staples, Energy, Finance, etc. -- could be a "value trap."

    I thought there was a threat here that I created or posted on where I discussed financial markets and also posted research. I'll see if I can re-start that and if you guys want we can schmooze on the markets over there....:D
     
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  3. medoraman

    medoraman Supporter! Supporter

    No doubt, as well as the dominance of US versus World. I still believe a balanced portfolio of US and world, along with value and growth, is prudent. I just chafe at bad financial reporting. I find most of it to be half truths at best. No one knows the future, but at least be truthful and educate properly.
     
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  4. harrync

    harrync Well-Known Member

    There is also an interesting article about the physical metal "shortage" at Seeking Alpha - https://seekingalpha.com/article/4334005-gap-paper-and-physical-gold-and-silver-will-close

    The problem with this good delivery bar [GDB] squeeze in gold is that the central banks have huge supplies of GDB's and may step in to stabilize the market -
    https://seekingalpha.com/article/129128-did-the-ecb-save-comex-from-gold-default

    The Hunt brothers were able to [temporarily] squeeze the silver good delivery bar market because there was no huge supply of silver GDB's anywhere.
     
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  5. GoldFinger1969

    GoldFinger1969 Well-Known Member

    SA has some good articles (and the Comments section are great). I used to write for SA.

    The problem is that many are just talking their books, especially the Gold Bugs and those bent on quasi-conspiracy stuff.

    That said, this particular piece on the "shortage" looks prettty well thought out.

    Yup.....

    Also, lack of information relative to today (no CNBC, no internet, no PC's at home, etc.).

    We now see these squeezes in tech stocks like TSLA ! :D
     
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  6. jfreakofkorn

    jfreakofkorn Well-Known Member

    So what is happening with the gold/ silver mine(s) with this vi4us thing going on . Would nt they be closed with also having in the surge in aka inflated price(s)
     
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  7. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Temporary shut-ins don't affect price too much.
     
  8. GoldBug999

    GoldBug999 Well-Known Member

    Great discussion! Thanks for the insights.

    For myself, I bought some raw gold eagles and maple leafs, as well as pre-1933 slabbed gold coins and modern gold proof sets, when gold was between about $1,200.00 and $1,500.00. I am breakeven on everything with gold at about $1,600.00. This includes some $1.00, $2.50, $5.00 and $10.00 coins that I bought for 2 to 8 times the bullion value.

    I have no plan to sell, but I'm hesitant to buy more now, except for some pre-1933 gold coins that aren't too effected by the bullion price.

    I see my collection as a hedge against inflation, and there's a lot more coming with the $trillions being created in just a few months.
     
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  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I'm not banking on inflation, my coins/bullion are insurance against anything that happens alongside $10,000 an ounce gold.

    I could give a rats ass about gold moving to $2,000 or even $2,500. Could be there in a few years if jewelry demand picks up from China and India and central bank selling abates.
     
  10. Pkfire

    Pkfire New Member

    with so much printing going on, not just Gold, but everything will go up in price.
     
  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    $8 away from an 8-year high.....$1,742.
     
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  12. fretboard

    fretboard Defender of Old Coinage!

    Exactly! I agree totally, I hope all this quantitative easing don't turn our money into Zimbabwe bucks! :D Whatever the case, gold will gladly remain the King of the Mountain! I just bought this 1/4 ounce coin set off of the bay, I won it in auction $492 and change, but I'm not worried about it at all! Just delivered to me today! It's definitely one of my most expensive coin sets but that's okay, I think I'll end up okay! Guess you could say, I'm betting on it! :cigar:
    IMG_1731.JPG
     
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  13. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Time To Revisit: Why restart this thread ? Well, this caught my eye:

    "...JP Morgan says Russia could give us a nasty surprise by cutting oil output by three millions barrels a day (3pc of world supply), which is physically possible without damaging its own drilling infrastructure. This would drive prices to an all-time high of $190.

    If Putin went for the jugular with a five million cut, prices could reach $380 a barrel."

    FWIW, I disagree with the absolute level of the price moves in oil if the output reductions take place. I think Brent/WTI would head for $125 if 3 MM/bbl./d exit, and maybe $200/bbl/d if 5 million barrels exit. But the loss of such output would have guestimates all over the place.

    It would depend on the state of economic growth in the U.S. and Europe; China lockdowns and GDP growth, and willingness of OPEC/Saudi Arabia to make up some of the lost barrels.

    Nonetheless...an oil price shock, even though it has many DEFLATIONARY and anti-gold variables, would probably be a big boost especially if it re-accelerated inflation.

    Remember, it was the loss of Iranian oil -- about 4 MM/bbl./d (right between these two estimates) -- that led to gold doubling in price in about 18 months.
     
    Last edited: Nov 25, 2022
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  14. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    The question to you invest on it, up or down, I buy either way so it really doesn't
    bother me, because I am long term it will average out in the long run :)
     
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  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Agreed....as I always say, I don't know where the next $200 move in gold is going....but I am pretty sure the next $1,000 is UP !!!
     
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  16. imrich

    imrich Supporter! Supporter

    Do you have any pre-1933 "top-tier" TPG certified Gold coins you want to sell at "grey sheet"?

    I constantly buy from reputable individuals, and a few firms that are naive.

    Better than holding my failing Fiat?

    JMHO
     
    Last edited: Nov 25, 2022
  17. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I frequently buy above Grey Sheet, for the right coins.

    When folks finally decide to “load up” because the momentum is to the upside, they’ll lament that they got in too late to buy anything at all.
     
    Last edited: Nov 25, 2022
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  18. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Bingo.....gold is not like equities where a bull market can last years or even decades and give you lots of chances to get in.

    Gold liquidity is so low compared to other markets, and the amount of $$$ that will be looking to get in (even though less in absolute terms) is large relative to daily volume such that I think it will SOAR in a matter of weeks or months.

    Folks will then say they'll wait for a correction....it won't happen....gold goes higher....folks wait for a correction....it won't happen....gold goes higher.....THEN they buy.....gold peaks.:D
     

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  19. charley

    charley Well-Known Member


    Can you share which GREYSHEET?
     
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  20. ToughCOINS

    ToughCOINS Dealer Member Moderator

    If you’re thinking that I use older Grey Sheets to buy lower, Charley, that’s not my bag. I like buying lower as much as the next guy, but if I don’t pay more, I don’t get the coins I want to sell.

    To answer your question more directly, I use the most recent Grey Sheet.
     
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  21. charley

    charley Well-Known Member


    There is more than 1 GREYSHEET. I am not referring to older or past quarter issues.
     
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