Schiff and this bloke are two sides of the same coin. This guy doesnt have the cojones to call the bottom, Schiff has been crapping on about gold at $5K per Oz for years.
Supply and demand will win in the end. There is too much potential upside for gold to go much lower IMHO, it has been smacked too hard already. You've got Peak Gold, Islamic demand (first Sharia product now available in Singapore), pending volatility, central banks loading up, India just eased on gold import restrictions where the blackmarket in gold has taken off.
What will ultimately determine the medium to long term success of Trumpo fiscal policy is will it improve the positions of lower and middle class people (which is where the economy is driven from). Trumphoria will lose in the end because there isn't much materially other than small tax cuts and a import tarriffs which will offset the benefits of the tax cut for consumers. Big business wins on tax cuts but rarely does this money trickle down, it just boosts stock markets - which are already overbought - correction coming, I hope it doesnt get into super bubble territory.
Im long term for gold, but yes we could move lower in the short term (I doubt by much though).
All will be revealed in the next few days ie: if gold upticks in the same pattern as the past 6 years. If it doesnt then clearly the paradigm has changed and Ill be keenly watching and waiting.
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