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

...but not today, so no sale.

My go-to dealer wasn't there; in fact, I haven't seen him at a show in quite a while. I think he's moved on to bigger and better shows.

Gold was selling at very low premiums to melt. I saw one polished Liberty double eagle that was just marked "+1%". The strongest offer I got on a details (cleaned, but not completely trashed) common-date Liberty $10 was $1000, a good $50 below melt. I probably should've taken that, but I decided to keep the coin instead of taking the cash. I chatted with the dealer for a while; he says with gold having climbed this much, people just aren't willing to pay significant premiums. The prices I saw at other dealers tended to support that.

So, as usual, if gold plummets Monday morning, you can blame me.

 

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I think its far wiser buying classic numismatic gold coins. Number, why not collect beautifull coins that were designed when mints still had skilled artisans? Second/ numismatic rare gold coins appreciate way more then any other investment.

 

Eh, my Apple stock begs to differ. (My Nortel stock, not so much. )

 

If you check auction records for past 100 years you will see the trends for numismatic coins (high quality/ classical) have appreciated
One coin I have shows this/ since previous 4 auctions tags came with piece. First tag....
1936 Berlin auction hammer 25 RM= $5US
2018 Sincona Auction hammer 4900 SFRCS =5100US
same type/ Japanese auction 6200 US
So in roughly 90 years 1200X price increase.

 

If I can trust the online calculator I just found, that's 8% compound interest per year. Not bad, but the S&P 500 during the same time returned over 4000X, well over 10% per year.

Buying into an index fund or a mutual fund is a lot easier, a lot less risky, and requires a lot less study. Of course, your statements are also a lot less pleasant to look at than the coins.

 

Yes/ coins are nice too admire! I can imagine what the "tyrant" fellow must be going thru/ sheer ectasy/ his collection is heavenly to say the least. Many of his cost more then a Million+ smackeroos.

 

I will probably not sell. Leaving it mostly to the next two generations when, if humans still exist, gold will be at $25,000 an ounce.

 

It will do what it is going to do, but it's had plenty of chances to get smashed: rising rates...rising REAL rates...falling inflation....strengthening dollar....strong bond/stock markets.

The fact is that going forward more people and institutions want to buy gold and fewer want to sell it. And the UP AND DOWN WALL STREET column notwithstanding, gold companies can't increase supply like oil companies could using modern technology (i.e., horizontal fracking).

So demand is rising and supply is going to be falling or stagnating and one of the "suppliers" -- central banks -- is now net-buying.

You're not going to have a move of weeks or months of rising gold. It's going to be a few days of triple-digit gains with NO CHANCE to get in, IMO.

 

I wonder. It makes me nervous to consciously bet against someone having a new idea. And then there's the whole "asteroid mining" thing, although that's certainly past my time horizon.

Looks like I'll be finding out with my stash intact, at least for now...

 

The world would truly be in dire straits if gold reached $3000 an ounce, but $2200 is not far away at all!

 

New highs.....$2,240 on the COMEX.

 

$2,250 overnight....some stuff on gold and gold stocks from ScotiaBank.

 

Well Stated, as an appreciative "dollar-cost-averager" living in a high "sales-tax" state, buying more than that 7 ounces of MS/PF/PR 69/70 certified Gold coins every month.

I wish the quoted poster good luck in acquiring the "select" choices, but believe the concerns may be relatively unwarranted, if PM pricing approaches a 30% increase.

JMHO

 

Oh, but it's so much more challenging to locate/acquire a PCGS/NGC PF/PR Gold 68-70, and fun!

JMHO

PS: one of 3 coins purchased yesterday https://www.ebay.com/itm/355503598955

 

20 April 2020 3K Gold target 18 months (Dec. 2021).

A little bit of a miss, there.......

Oh well. Back to mowing the grass myself for another Summer.

 

To be fair, that's probably not the only missed forecast (on any topic) from early 2020.

 

Getting the DIRECTION right is more important and also having the underlying fundamentals right is also good.

Personally, I think $3,000 by 2030 and I think I have said that. $5,000 MAYBE by 2035.

Get your Saints and Liberty's while you can.

 

PTs are always wrong. The big thing is getting the DIRECTION right.

Guess what....the last 2 years I have had the inflation, GDP, and Fed (FOMC) moves all nailed. I got them all right. What a genius I am.

But...I got the stock market WRONG (still had exposure, just not enough). So I got the stronger GDP and the Fed NOT cutting as much in 2024 as expected and inflation remaining a problem ALL CORRECT -- and the stock market gave me the middle finger and went higher anyways.

If you told me or anybody that would be the case in early-2023 they'd have said you were nuts.

Sometimes it pays to be luckier than smarter.

 

Yeah, well.....no.

By April 20, 2020, the issue and the long haul monetary repercussions of same was VERY clear to the entire world financial structure.

Banks are inherently not in the "fair" business, and the majority of the world financiers were locking up PMs and pushing 0-2% interest rates to benefit their own coffers, the foremost "fair" entities being the U.S./UK/Canada/India/China selfless Banking Houses by April 20, 2020. They just wanted to help the little guy..... because that is the kind of nice enterprises they are.