$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

    Figured I wouuld create a master thread for gold research....here's a doozy, showing that the sell-side is now getting bullish on gold.

    Merrill Lynch/BOA ups their gold price targets bigtime.

    Attached Files:

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  3. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Your attached file doesn't open for me. How about giving us a link to the article?
    ~ Chris
    GoldFinger1969 likes this.
  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Chris, it's not an article, it's an actual PDF research report.

    Anybody else having trouble bring it up ? Comes up for me.

    You need Adobe Acrobat to read it.
    Last edited: Apr 21, 2020
    NOS likes this.
  5. slackaction1

    slackaction1 Supporter! Supporter

    Real Silver Price 2021.... 21.95.... works..it open 4 me.
    GoldFinger1969 likes this.
  6. NOS

    NOS Former Coin Hoarder

    The PDF article downloaded and loaded up just fine for me.
    GoldFinger1969 likes this.
  7. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Chris, get Adobe Acrobat and if it doesn't come up I'll copy-and-paste key sections here.
  8. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    I just wonder how long it will take the big money types to realize that all of the money being thrown at the economy right now will affect the long term value of the dollar.
    GoldFinger1969 likes this.
  9. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    The 'big money types' absolutely know this already. It's the consumer and 'little guy' receiving the handouts that will be hit over the head with a 2x4 when they need a wheelbarrow of cash for the loaf of bread.
    GoldFinger1969 likes this.
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    It's not a dollar thing, EVERY country is stimulating. So on a relative basis, the dollar might even appreciate.

    This is a shift to more currency and supplies kept at home...more gold...less reliance on globalization.
    baseball21 likes this.
  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Trust me, the "big money types" are the LAST to know.

    Little guys like you and me can pivot on a dime. Big Money types (except for some hedge funds) take MONTHS or QUARTERS to move.

    So many people don't understand this. Just like the "rich not paying their fair share" of taxes malarkey. :D
    imrich and baseball21 like this.
  12. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    The big money types was interpreted by me as individuals, not mutual funds or hedge funds, or investment managers. I was thinking more like Gates, Soros, Bezos, and their ilk. They know and couldn't care less.
    imrich and GoldFinger1969 like this.
  13. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I managed money for one of those names. I can assure you, they are NOT "in the know" and most of their wealth is concentrated in equities and very few ones at that.
  14. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Primer on Gold Stocks from ML-BOA:

    Attached Files:

  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Jeff Gundlach, a bond expert but savvy on all markets, just mused that we could see the reverse of the negative oil price fiasco we saw last week in the gold market.

    Specifically, he asked what would happen if everyone demanded to take delivery of physical gold. Too many people apparently are "short" and this could lead to a TSLA-like short covering surge.

  16. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    I've always find it interesting that you could buy "paper gold" anyway, given that there's nowhere near enough of the physical stuff to cover all of those claims.
    GoldFinger1969 likes this.
  17. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    Isn't it ironic that the 1929 crash was in large part due to people investing in 'paper companies'. Those were not Dunder Mifflin type paper companies. We're talking about companies that didn't exist. Just on paper. Shell companies so too speak.
    GoldFinger1969 likes this.
  18. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I'm not an expert on this but a guy I know has written a book about this quandry: when the notional (face value) amount of something exceeds the actual supply.

    We saw something of this in 2008-09 when the amount of credit default swaps (CDS) exceeded the amount of bonds at issue.

    We just saw oil go negative, something I only saw written about in the last few weeks.

    If we DO see a move to $3,000 gold, it's going to happen over like 2 weeks with a couple of $250 or $300 up days.
    There won't be a chance to get in and buy. Anything tied to gold -- generic bullion coins or semi-rares -- will be jacked up 3-4 times in 2 weeks.

    If you have your coins, it's going to be F-U-N.....FUN. :mad: If not, after years of gold staying at $1,500 an ounce on average, you'll be hoping for a correction back to $2,500. :D
    slackaction1 likes this.
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    It was more speculating on margin. You only had to put up 10% to buy stocks.

    Stocks simply got ahead of themselves. Same thing happened in 1987.
  20. FryDaddyJr

    FryDaddyJr Junior Member

    will you sell??
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Asking me ? If gold hits $3,000 ?

    Let's get there FIRST and then I'll think about it....:D
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