I have another spin on your view. The "majority" of the worlds bullion is in the hands of banks/financial institutions and the "super wealthy" that have the influence to how they want to play out economies, globally. What drives gold up even further ? War. We only need to look back through history to when we're all to comfortable to see that things can and do change in the blink of an eye. Geez, you only need to look around at current world headlines and it becomes obvious that there is someone that is itching for one. There is little global impact from the average wealthy Joe with bullion, they're hanging on for pay day/retirement and they've always been around, the ones with all the major coffers wouldn't let themselves be caught with their pants down, they have too much at stake. I am far from an expert, just my view of things and so theoretically I see gold rising to a point where the peak will hover for a period whilst the elite make their moves before it has its major downturn. Either way we're all pawns playing a game, best of luck to us with what we have.
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