GOLD (COMEX) gold

Originally posted by Skol: ↑

Time isn't of the essence you might say, it's the shape.

That's why charting can apply to minutes, or you can apply it over hundreds of years.

All of those charts 1980, 2011 and the unfolding collapse in 2020 all look almost exactly the same.The smart dudes packed up and left months ago.

The suckers are the likely to be the ones 'backin' the truck up' if history's any guide. The rats are deserting the sinking SS Gold and headed for assets which look more promising with a vaccine in the near future.

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Mate, I don't think I've ever seen someone who posts as much non-sense as you. "I predicted the crashed in x, y, z".... mate all you do is say gold is going to crash, even a broken clock is right 2 times a day. I take your posts with a grain of salt. You talk about comparisons in gold prices from 1980 and 2011 but lets look at some facts. In 1980 the price of gold dropped because the Fed targeted the quantity of money and was seeking to reduce the amount of money that was present in the economy as inflation increased, this obviously has an impact on gold as it is an inverse relationship. In the years after the GFC gold prices went to higher highs and remained at these highs for some time as a result of printing money and providing stimulus, before it "crashed" in 2013 due to the federal reserve halting the purchases of bond purchases and stimulus. Note that gold remained at high values after that correction.

Now, lets have a look at the present day. We have seen the largest amount of money printing since 2008, with no real way to reduce the amount of money in the economy in the short-medium term. What is printed will remain out there. The whole world is suffering immensely due to COVID and inflation will be on the uptrend greatly, with interest rates not set to budge for some time. Gold will sit around this 1850 price mark until further news on stimulus, and once that stimulus is announced, gold will trend upwards again. Once we see the real impact of the covid recession in the years after government support, stimulus and the like, gold will also continue to appreciate as the world attempts to recover from the stupid amount of debt everyone has gone into.

Fundamentally, gold can only go up. Honestly, save yourself some breath and time, just come back in 2023 when gold starts to slow down and claim that "you predicted it".

Are there better returns in the long run than what gold will provide you? Yes absolutely, however, you can't argue the stability and strength of gold.

Disclaimer: No gold bug and do not own physical gold. Just an investor which follows fundamental analysis.