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

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

  1. Vess1

    Vess1 CT SP VIP

    Gold was over $2k in August of 2020. I wonder how much cash has been printed since then and it can't hold $2k in 2023 today?

    I had to look it up. Apparently at the start of 2020 there were $4.019 trillion dollars in circulation. On Jan. 4th 2021, the number increased to $6.7 trillion.
    Then the fed went into overdrive. By October 2021, that number climbed to $20 trillion in circulation.
    The extra cash must not be chasing gold AT ALL. If there was any relation to the money created, gold should be around $10k an ounce today.
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  3. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Tracking dollars or money supply and trying to forecast gold prices is not going to work. There are too many variables.

    Focus on supply and demand and right now demand is going up for the next 5-15 years. India, China, South America, Asia -- all want more gold.

    India's imports of gold double every 15 years or less.
    fretboard likes this.
  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Hanging around $2,000.....:cigar:

    Attached Files:

    Randy Abercrombie likes this.
  5. rte

    rte Well-Known Member

    The dollar devalued and the gold doesn't climb.
    Must be that magnetic pull thing tied to the gravity of the situation
  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    There isn't any direct correlation. The gold standard ended in 1933 or 1971, take your pick. :D

    Gold will go up as rising demand outstrips supply (new + existing stocks). Keep an eye on Indian demand, as millions of Indians go from poverty incomes to middle-class incomes every year for the next decade.

    They will not put the 10-fold rise in incomes into more food, it will be used for consumption and savings (gold).

    Here's annual Indian gold consumption over the decades:
    • Pre-Independence (1947)......~ 30 tons per year
    • 1950's-1960's......................~ 90 tons per year
    • 1980's................................~ 150 tons per year
    • 1990's................................ ~ 375 tons per year
    • Today................................. ~ 700 tons per year
    If by 2030 India is taking in 1,500 tons of gold per year, that is a big drawdown combined with more rising Chinese/Asian, African, South/Central American demand, plus Europe/North America.

    Gold today is where it was in the early-1960's....you KNEW the price was going alot higher, you just didn't know WHEN. :D
  7. GoldFinger1969

    GoldFinger1969 Well-Known Member

    New ATH in gold (I believe).....$2,076. Let's see where we close tomorrow with more bank problems AH.
  8. slackaction1

    slackaction1 Supporter! Supporter

    Really 1960... That was a good decade allot of things materialized out of the Sixties.
  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    FYI....need to hit $2,068 on a closing and $2,090 on an intra-day basis to set new highs. [​IMG]
    -jeffB likes this.
  10. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    With all the concerns in the stock market
    people are dumping and moving in to GOLD, the writing is on the wall !!
  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I wouldn't go that far. A bit of a "fear" trade, yes....but if there was true panic gold would be moving up $100 or $200 a day for a few days in a row.
    psuman08 and masterswimmer like this.
  12. slackaction1

    slackaction1 Supporter! Supporter

    Won't be good for 401k either. need to get that debt ceiling under control sooner than later.
  13. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Markets are weak right now with all its struggles, have moved allot of my investments in to other things but will always like GOLD and BTC am finishing
    up my type set of pre 33 coins just bought a $10 Indian, $10 Liberty and a $5
    liberty and te $5 Indian will be here end of week, but I am really getting sick
    of the wait times 15-20 days from APMEX ;( $2.50,s are close just have to find
    the right ones have managed to find all the above with CAC stickers, on the
    $5 indian I just bought its a $250 premium over the standard PCGS grade.
    GoldFinger1969 likes this.
  14. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Knocking on a new all-time high. Triple-top approaching at about $2,075.

    Gold, 2019-23.jpg
    mpcusa likes this.
  15. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I like the sound of that :)
    GoldFinger1969 likes this.
  16. imrich

    imrich Supporter! Supporter

    3 times it may have returned to that high in 4 years. Hmmm! I may have made a wise ~weekly MS/PR69-70 Gold Eagle coin investment then!

    My most recent: https://www.ebay.com/itm/395005000552

    Last edited: Nov 29, 2023
    GoldFinger1969 likes this.
  17. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Only time will tell…
    GoldFinger1969 likes this.
  18. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I'm not a TA expert, but I do believe once it is pierced to the upside it will provide MASSIVE support to the downside.

    In other words, a springboard to much higher prices, including my $3,000 (definitely) and $5,000 (possibly) targets. :cigar::cigar:
  19. imrich

    imrich Supporter! Supporter


    My proverbial target prices are much lower, but believed
    more positively successful!

    I eat the "loaf" one slice at a time, which almost anyone from my ghettos could do!!

    My previous week, but this has been a long term project, where others are now becoming believingly "more astute": https://www.ebay.com/itm/204470144435

    Last edited: Nov 29, 2023
    GoldFinger1969 likes this.
  20. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I just came here because I looked at the spot charts for the first time in a while and near fell over. Don’t get me wrong. I am tickled to death with the uptick in value of my SBD holdings…. But not very optimistic about what this may forebode for everything else around us.
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

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