What is your point then?
It is interesting that you posted that Maquarie were predicting a price of $1,400 for 2020 because this was in line with your thinking,(i.e. down from the current price) You did not post Maquaries forecast which was that they see gold rising to $1,650 in 2021. So you only told half the story,presumably because the future rise was contrary to your negative view of gold.
Barclays,JP Morgan, ABN Ambro and even Deusche Bank are forecasting a rise to over $1,600 in 2020.
But even at $1,400 those shonky miners that your pal Skol describes them will be very very profitable. Witness SLR quarterly today.
Those shonky miners form an important part of the Australian Economy,creating employment,paying taxes, and flow on work to contractors and suppliers. They are welcomed with open arms by the likes of the West Australian Government,
At no stage have i said there would be a financial armeggedon. My posts have been very consistent in stating that in these uncertain times it makes sense to have some exposure to gold,or gold producers where there.
If the price does rise to $1,650 these shonky miners will be racking and stacking to quote Skol.
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