I have long thought that the smoke and mirror system of money borrowing and printing would end badly and that Gold would be restored to its old position above that of the paper currencies. IMHO: I personally can’t help feeling that time is rapidly approaching. Whilst Gold is denigrated in the west it is appreciated in India and China. Please see the article linked.
Snippets from the article.
“China's gold demand is expected to rise and help push the price of bullion back to about $1,200 an ounce next year, the chairman of Zijin Mining Group, the world's biggest gold producer by market value, said on Monday.”
"We are very active and we do not restrict our targets in any specific regions or assets, though we mainly look into gold and copper," Chen said.”
If Gold is headed back to US $1,200.00 and the brains trust in Canberra keep blundering along to a 70 cent local dollar we could soon see Gold above AUD $1,700.00 !!!
