Hi Guys, great day for us gold bulls, spot at around AUD$1760, I have read this article $1550 a "possibility", now if a bankster thinks $1550 is possible, that means that $2000+ is likely.
Now if gold does go to US$1550 in 2016, and say the AUD$ stays around say 75c.
we will see AUD$2,000 gold this yr, IF that happens ill be a happy camper, although I WONT be selling.
If gold actually does get to AUD$2000 this yr, that means that my target of AUD$5,000 will be all the more likely. even WITHOUT hyperinflation I think gold AUD$5,000 is very possible, ill tell you one reason why.
Because last big gold bull run in the late 1970's.
Gold was $35 x 24 got to $840
Start of this gold bull run was about $220.
x24 we get $5,240.
Now we all know history dosent repeat exactly, and this time the world is in much WORSE shape than in the late 1970's, Global debt is Enormous to be mild about it, much higher in any terms you look at it.
So I think this gold bull run will ultimately be much higher in % terms than the late 1970's bull run.
gold dow ratio 2-1 looks about right.
DOW drops to 10,000 which is a real possibility, gold should be around $5,000.
That's when I would sell some gold for top quality blue chips, by that I don't mean google or facebook by the way.
Have a great week guys, this is still only the beginning, remember gold got to US$1900 a few yrs ago, we are only at $1250 now, sure up from $1,050 so we still have a long long way to go, the upside is so much bigger than any downside risk.
Also, I have noticed a lot of mainstream media mentioning gold recently positively that is, so that's a good sign, hopefully some sheeple wake up and start buying it instead of just thinking stocks and paper "assets".
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