As long as we continue to have tensions and uncertainty, gold is where one should be. Yes, overbought and corrections, even sharp ones can occur, but overall, we continue to look higher.
I think a lot of metals analysts are expecting an intermediate top in gold at $4000 and an intermediate top and silver at $50. I'm of the opinion that the rally may go further than that.
Indian demand and Chinese demand will likely disappear by November 7 at the latest. Thereafter, gold and silver demand will be there only if there is a significant price correction.
Regardless of the increasing supply of the yellow metal, M2 today is +1,293% of what ’twas back in 1980 and thus is the primary debasing driver of Gold.
Ira Epstein discusses the impact of the federal government shutdown on the metals market, noting an unexpected rally in stocks and a cautious outlook for gold and silver.
Since gold is real, stable money, pricing the Dow in the yellow metal reveals that the appreciation of the stock market over the last century was predominantly driven by inflation.
