Gold - closing in on all-time high

[tsptalk]

Nearing new all time highs...

https://www.tsptalk.com/images/mb/070820b.gif

[Bullitt]

There's the new all-time high. Kind of wish I still had those GDXJ shares that did nothing for me for five years.

Decent article, but thing is, if someone holds the ETF in an IRA, they have more money today than yesterday. Nobody buys and holds commodity ETF's - they're trading vehicles.


Even so, traders and investors who are perennial fans of the yellow metal have a flaw in their thinking, too. They always believe gold is cheap, no matter what, even though they seldom have the same reasons for believing that it’s cheap. That is its own sort of mistake.

Adjusted for inflation, he reckons, gold would still have to rise approximately 52% from this week’s prices to match its level of January 1980. That is when it peaked in inflation-adjusted terms.

So the yellow metal, once considered a hedge against an overheated economy, has become a bet against a return to economic growth.

https://www.wsj.com/articles/a-golden-rule-from-a-golden-fool-11595599207

[Bullitt]

Fund flows 7/1 to 7/24.

QQQ in fifth place and GLD in first by a good bit, but I thought QQQ was the one in the bubble.

46767

[tsptalk]

Goldman Sachs has a new blowout forecast for gold


Goldman Sachs, which has ditched its own $2,000 forecast and says we’re going to see $2,300 an ounce in the next 12 months.

Driven by “a potential shift in the U.S. Fed toward an inflationary bias against a backdrop of rising geopolitical tensions, elevated U.S. domestic political and social uncertainty, and a growing second wave of COVID-19 related infections,” gold’s surge to new highs lately has outpaced gains for real rates and other alternatives to the dollar, said a team of analysts led by Jeffrey Currie.

“Combined with a record level of debt accumulation by the U.S. government, real concerns around the longevity of the U.S. dollar as a reserve currency have started to emerge,” said the team.


https://www.marketwatch.com/story/goldman-sachs-now-expects-gold-to-reach-2300-an-ounce-2020-07-28?mod=home-page

[Bullitt]

For those that follow the moonbeams, there is a major Bradley Siderograph turn date scheduled two weeks (8/19). Generally they occur +/- a few days.

https://bradleysiderograph.com/2020-turn-dates-gold/