Gold hasn't been $700USD since 2007/08 and since then there has been massive currency dilution globally, check M2. And interest rates crashed to zero in some places and low in Australia, which makes the opportunity cost of holding gold lower. The only way Gold will hit $700 USD if there is a massive crisis of confidence in the COMEX and or massive manipulation. The last manipulation attempt dropped 400 tons of paper gold in an afternoon.. to drop gold to$700USD I reckon they would have to drop 1,000 tons of paper gold in an afternoon... (and of course at that price all physical gold would be bought up and totally disappear).
Yes I think there is capacity for the manipulation of the gold price to continue to try and cap it under 1200 USD and bring it near 1,000 as a means to protect confidence in USD. The POG in AUD in the meantime may not even change though.
I agree there has been a rapid run up in NST and a retrace is likely followed by another leg up. Which all suits me.
Gold hasn't been $700USD since 2007/08 and since then there has...
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Last
$12.80 |
Change
-0.020(0.16%) |
Mkt cap ! $14.71B | |||
| Open | High | Low | Value | Volume |
| $12.95 | $13.02 | $12.76 | $52.27M | 4.057M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 52 | 13841 | $12.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.80 | 11634 | 33 |
View Market Depth
| Last trade - 15.19pm 08/07/2024 (20 minute delay) ? |
| NST (ASX) Chart |