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spartan300

191 Posts.

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14/07/18

14:43

Post #: 34345113
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Originally posted by Skol ↑

I bet $800 one year in the gold price competition and it stuck. But that's not to say it won't get there.

In 1980 the blow-off top reached $880, gold fell over the next few years to $280, a drop of 68%.

After the 2011 mania, if gold dropped the same amount it would get to $608, so in my opinion $800 is well within reach. In addition the last gold bear market last 21 years, we're only 7 into this one. Even the threat of a nasty trade war can't give gold any impetus, the DXY is about to break out above 95 and the US 10 year bond yield has been on the way up for 2 years, so I doubt gold will going anywhere, anytime soon.

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I'm guessing then you didn't win the gold price competition?
1 Upvote

0 Great analysis

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