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

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

  1. charley

    charley Well-Known Member

    Yeah, yeah, yeah, it is always "the other guy" with Goldbugs.

    Never want to admit the World Financiers employing and layering disaster via controlled chaos investment events for their own House benefit.
     
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  3. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Banks don't "push" anything, the market dictates. If banks could "dictate" they'd have conditions that were a wee bit better than what they have had for the last 20 years which hasn't led to a single U.S. bank producing a 6% annualized return for their stock price, most closer to 0-2%. Most other companies looking at 10-15%. :D

    Banking the last 2 decades has been a TERRIBLE business to be in. If anybody wants the numbers, I have 'em.
     
  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Not a gold bug, but am bullish on gold longer-term, yes.
    No, I don't believe it. Their stock prices would be alot better if that were the case.

    Maybe you're talking about the tech companies ? :D
     
  5. charley

    charley Well-Known Member


    OK. Understood.
    There is the quiet trusting soul, when seeing the First NVA come over the hill, believe that it is just tourists that want to surrender.
     
  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Charley, I just let the facts and the numbers speak for themselves. I see the wealth creation in the tech and social media landscape DWARF any huge moneies made in banking, even for Wall Street banks.

    Folks are even leaving Goldman Sachs to start their own hedge funds. :wideyed:

    If the banks were as all-powerful as everyone wants to believe, they'd be doing alot better. Citibank wouldn't be 1/10th the level of 15 years ago and BankAmerica wouldn't be 40% lower.

    As someone who has invested in bank stocks for over 35 years, I can tell you the landscape SUCKS. :D Need major consolidation and a better economy and more favorable Fed policy to generate even 12-15% ROEs for most banks (a few biggies like JP Morgan excepted).
     
  7. charley

    charley Well-Known Member

    OK.
    35 years. I am humbled by your knowledge.

    You did not savvy anything I was conveying (as usual). I do not care about investing in banks or anything else in the stock market. You do. I understand. You use cute little emojis for one reason....to try to convey you are not being condescending. I do not need your explanation of your 35 years of knowledge. If the banks you opine (which, again, is YOUR interpretation of what I mean....evidenced by your use of the various lookatme names you throw out to dazzle the reader with your 35 years) are performing so bad, why would you, with your brilliance and facts, invest in same for 35 years?

    FTR, I don't give a damn about tech stocks either or any other stock. I simply don't care. I would never invest in gold or silver or any other so-called precious metal.

    If a Goldbug walks, talks and quacks like a Goldbug, it is a Goldbug. I simply do not care for or listen to the advice of Goldbugs, or stock hawkers and will always voice my opinion.

    The Undermoney machine thrives on the person that believes as you do. You truly, with your 35 years of experience and knowledge do not know about controlled chaos investment events? You equate world financiers with bank investors? You have the numbers....got it. I am convinced, then.
     
  8. pmbug

    pmbug Taking steps on my thousand mile journey

     
  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Totally untrue. Buy 'em if you like their beauty like a work of art.

    But I can find only a FEW examples -- like the Bass Proof Liberty Head DE -- which return double-digits over long periods of time and/or are competitive with equities OR a balanced portfolio.

    Most trophy coins I have followed will generate mid-single digit returns, about expected for an asset class that doesn't generate dividends OR income.
     
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Some of my more telling charts and graphs.....:D

    ETFs have NOT been driving this market....

    Gold vs. ETFs.jpg


    Global gold production has started to peak:

    Annual Gold Production, 2010-23.jpg

    This bull market in gold can run much further based on history. But you actually want a slow and long and drawn-out bull market rather than a spike like we saw in the 1970's:

    5 Major Gold Bull Markets.jpg

    Look at the demand over DECADES from just one historically pro-gold country, India. Today they consume about 800 tons of gold annually -- this is for the masses, I'm not talking about CB buying for monetary reasons.

    Doubles every 2 decades !

    Indian Gold Consumption, 1850-1997.jpg
     
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  11. charley

    charley Well-Known Member

    Mit da Charts!! Mit da Charts!!!

    Sigh.....
     
  12. imrich

    imrich Supporter! Supporter

    Remember 2008, and "Inside Job"!

    One of my daily answers to the problem: https://www.ebay.com/itm/235449110723
     
    Last edited: Mar 30, 2024
  13. GoldFinger1969

    GoldFinger1969 Well-Known Member

    What you see and hear about "Wall Street" and banks is usually by folks with an axe to grind and also a lack of financial acumen.

    Fact: there was no "Wall Street bank" bailout in 2008-09. But the media continues to lie about it because they all regurgitate the same half-assed sources. The only banks "bailed out" were small community banks plus some non-bank companies which were "bailed out" to make the UNIONS whole (i.e, UAW).

    JP Morgan and Goldman Sachs each didn't WANT any TARP $$$. They were forced to take it at gunpoint. They paid it back each within 9 months. Citigroup may or may not have made it (I think they would have) -- but they got diluted to hell and the stock will need another 30 years to break-even if you owned it in 2007.

    Meanwhile....the Teamsters CSPF pension ponzi scheme got $36,000,000,000 from the Covid stimulus. Nobody lost their jobs...nobody was fired....no supervision (ERISA ???).....no payback period.

    Not a word in the press. :yack:

    Guess which constitutency -- bank shareholders or Teamster retirees -- is more important in Michigan this November ? :D :wideyed:
     
  14. imrich

    imrich Supporter! Supporter

    You're ~correct, as that's when it became apparent, adverse "things" were happening, which haven't yet been reversed!

    I just finished listening to a very well know singular TV program individual, objectively explain societal changes from ~2008 until currently.

    I don't believe, mine or yours, general past discussion is appropriate here, unless coin related!

    I'm trying to show, by visual posts, what may be desirable objective "investments", which have exceeded a greater return than professionals have gambled with me (a 5-figure sum invested 5 years for a difference double payment).

    PM me if/when you're ready!

    JMHO
     
    Last edited: Mar 31, 2024
    GoldFinger1969 likes this.
  15. -jeffB

    -jeffB Greshams LEO Supporter

    At this point, I'm willing to boldly predict that gold will hit $2300/oz before it falls back below $2000. :rolleyes: Jury's still out on $3000 before $2000, though, IMHO.
     
    GoldFinger1969 likes this.
  16. GoldFinger1969

    GoldFinger1969 Well-Known Member

    We hit $2,300 in AH tonight. :cigar:

    The market now realizes that ever previous resistance level is now turning into support. This means that traders have to have a LONG bias not SHORT bias.

    This is all trading static as we move inexorably to $3,000. The bigger question in my mind is do we goto $5,000 and when.

    Hopefully, not for a while as I still have some Saints to add to my collection. :D
     
  17. GoldFinger1969

    GoldFinger1969 Well-Known Member

    As Peter Lynch would say...I don't know where the next $300 move is, up or down.

    But I DO know where the next $700 move is. :D
     
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  18. GoldFinger1969

    GoldFinger1969 Well-Known Member

    David Einhorn, of Greenlight Capital, said that he not only has his (larger) traditional gold ETF position but also actual bars. "We own alot of gold."

    Warren Pies on CNBC today said $2,500 later this year.:p
     
    pmbug likes this.
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    There is now steady BUYING of gold from central banks, only the level changes. A big change from the 1980's and 1990's when CB's were net sellers:

    Central Bank Gold Buying, 2021-23 Qtrly.jpg

    Low-hanging fruit is gone from world gold mines. Supply is tough to expand. Takes YEARS to bring new gold supplies online:

    Gold Production, 1820-2020.jpg

    An earlier post in this thread showed how gold has lately moved up DESPITE net selling from (retail) ETFs. This shows that gold is in STRONG hands and institutional buying is picking up. ETF buyers can get in-and-out...if you actually hold the metal, you're not gonna sell next week or next month.

    These are "strong hands" for gold: long-term public demand and/or institutional buyers.

    ETF AUMs & Gold Price, 2004-24.jpg
     
  20. GoldFinger1969

    GoldFinger1969 Well-Known Member

    $2,420 up $50 on COMEX.

    KA-CHING !!
     
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