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Gold Expected to go US$2000, page-8

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Irishmist

448 Posts.

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22/05/20

11:45

Post #: 44772898
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Originally posted by CHN: ↑

Thanks for the interesting comments.

It seems to me that the Corona Virus is just a catalyst for the correction that was well overdue.

Eventually Covid 19 will be just another bug we have to deal with.

The long term downtrend in interest rates has pushed huge quantities of funds into bonds.

So what next?

Bonds don't provide any return now so they are not a viable means of an investment return for all
the baby boomers out there (like me). They protect your capital but that's about it. And from this point bonds
also present a risk of capital losses if there is any upward pressure on interest rates and they are redeemed
before maturity.

Cash returns nothing and if negative interest rates become even more ubiquitous then cash is a losing situation.
I have a small cash yen holding in my Japanese brokerage account and it is interesting to see 10-20 yen extracted each
month as my penance for holding cash!

That leaves stocks. Stocks are now much more reasonable and in Australia you get dividends & franking credits. So this will
underpin a recovery in our stock market. Banks have problems but the government will look after them so I don't agree that
they are a dud medium term investment. Maybe franking credits will disappear given the way the budget is heading.

All this creates a perfect environment for gold as a trusted store of wealth that is easily traded. It is a small market compared
to stocks & bonds and so any significant move into gold, which seems to be underway now, will place upward pressure on the
gold price. My personal choice is gold stocks rather than bullion - more volatile but great leverage.

If the 70's is any guide then we can expect gold to go parabolic at some stage and it is anyone's guess how high it can go. The rises
in some of the gold stocks during that '76-'80 bubble were astonishing.

So maybe having the core holding that you hang onto is the method we can use to not sell too soon and hang in there. We are
nowhere near that yet IMO

All the best

Expand

CHN, thanks for the excellent summary. For what is worth I agree with you 100%. Presumably the same logic applies to other precious metals - a lot of talk around silver in particular, but are there any other precious metals you would single out ?

EVN Price at posting: $5.92 Sentiment: Buy Disclosure: Held
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Last $3.77		Change 0.060(1.62%)		Mkt cap ! $7.486B

Open	High	Low	Value	Volume
$3.78	$3.79	$3.74	$25.17M	6.686M

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No.	Vol.	Price($)
1	4991	$3.77

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Price($)	Vol.	No.
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2	10000	3.750
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