Gold has had a terrific run this year. Newcrest Mining Limited [ASX:NCM] is up roughly 80% this year. However, gold stocks such as NCM have been under selling pressure in recent weeks.
Is it any wonder that the price of gold is on the rise? If you’re yet to bolster your portfolio with bullion or gold stocks, don’t worry, it’s not too late.
There would be havoc. And markets would be as unpredictable as ever. But one thing won’t be unpredictable. The price of gold.
The price of gold is on the launch pad…and it may be poised for a moonshot. We already saw the price of gold ‘lift-off’ after the Brexit announcement.
While gold’s due for a correction, I fear much worse. Contrary to the majority, and despite the recent rally, I expect it to hit US$931 per ounce — a three year forecast — in the months ahead.
Gold. It has been one of the best performing commodities this year. That, and silver. Yet, one analyst doesn’t like gold… not the commodity price, anyway.
The likes of GST on Gold bullion reflects the government’s complete ignorance of the value of bullion. They don’t see the value gold has in the monetary system.
It is unlikely that both gold and shares will continue to rise. It is just a question of which one will drop first. When it comes down to it, there are more reasons for gold to blink first.
With a catastrophic financial meltdown looming — possibly the greatest of all time —the US dollar is going much higher.
Gold isn’t money. Gold — like stocks, commodities, property and agriculture — is an asset. It’s merely a store of wealth.