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

Buy, Buy, Buy ! will be heading down COSTCO this weekend if they even have any left, they sold out on Friday last week.

 

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I am going for the Triple Ripple.

 

I just can't seem to break my habit of buying things when the price gets dropped ("on sale"), rather than when the price has just been jacked up.

 

It's a reflection of increased living standards globally.

 

The markets can remain irrational longer than you can remain solvent.

 

they call that speculation..LOL

 

Try dollar-cost-averaging, it does work, once you determine/buy what others want!
I love/buy PR70 Gold Eagles for me, but when I've offered @<spot, none buy!
JMHO

 

You going to get a 10-ounce silver bar
mpcusa ? or some more Chinese gold there.

 

prices drop to half off at HAPPY HOUR rather than full price and you get JACKED UP

 

Baloney. It is Fear manipulation as the Root of the INCREASED ECONOMIC CONDITIONS.

World wide increased standards of living? Really?

I suspect you may have a limited view of living standards in the majority of the worldwide population.

But, if you are happy....

 

Exactly.

 

No, not happy...just chock-full-of facts.

Poor people on subsistence can only purchase or afford to hold the tiniest amounts of gold via jewelry, bars, coins, etc. When they have a low- or middle-income, they can buy alot more (if they want). Less than 10% of the Earth's population lives in extreme poverty (subsistence) today; in 1970, it was 60%.

We just freed up 50% or half of the Earth's population to buy stuff including PMs....you don't think that shows up over time ?

India per-capita gold consumption has doubled every 12-15 years since 1947; on track for 800 tons last year and this year. That is one country, albeit with the largest population on the planet.

By 2035, subject to price elasticities from the rising price, they could be on target to purchase 1,500 tons per year or about 40% of global supply. They purchased about 5% of global supply in 1950 !!

No central bank sellers...plenty of retail coin/bar demand....some people buying for economic/inflation reasons (you are correct there but it's not the major factor)....all part of a powerful tailwind, Charley.

Major negative is competition from BitCoin and crypto.

 

Stick to your knowledge of historical gold.

The rest of the soliloquy is not persuasive.

Your attempts to justify the use of gold pricing, an economic Fear tool, as benefitting the People is silly.

I don't have any ill will toward goldbugs or supporters of same.

When ridiculous theories of how the People of the World benefit from economic Fear of the cost of Gold and not possessing same is somehow a magnanimous and selfless gift to the economic wellbeing of the People, it is an insulting indictment of society.

I understand (for as long as I became familiar with your opinions of economy and the benefits of gold) you are convinced of your position.

I respect your tenacity.

 

It's not tenacity or the other issues you cite.

It's more people able to buy something.

How many people had color TVs in the 1960's and 1970's ? I'd say maybe 10% of my middle-class friends had even 1 color TV in the house (and usually in the parent's bedroom). Now, everybody has color TV since thge 1980's.

I'm not a goldbug. People want to hold some gold for various reasons that have NOTHING to do with economic collapse or inflation....though other countries having had economic and financial market WIPE-OUTS (i.e., stocks go to zero because of war or hyperinflation) over the decades. That is something that has NEVER happened to the United States.

Gold is going up because demand is outstripping supply, it's not Rocket Science. I'm just trying to see where the increase in demand is coming from and why supply has stagnated (mostly stagnant mine production, no CB sales).

We can disagree on WHY supply is stagnant and WHY demand is increasing or if it is rationale or preventive. But we can't deny the trends.

 

OK. I am a Believer. You have convinced me. What time is Mass?

 

Novus Ordo or Latin Traditional ?

The interesting this is the collapse in gold premiums as the price has crossed $3,000....fascinating.

 

Tech makes for iffy examples. I mean, how many people had handheld supercomputers in the 1960s and 1970s? Zero. Now, it's a couple of billion (everyone who has a smartphone).

Now, do houses.

 

I never bought gold or bullion coins. I think my rare coin collection, valued in numismatic terms at 5-7MUS/ actual gold weight 400 oz.