Colin
The CBs have been printing like mad since 2008, but that has not yet had an inflationary effect, its lowered interest rates and made certain asset prices a lot more expensive then they would have been, especially equities and property. Japan has been fighting deflation for about 30 years, and its govt debt is massive. I think the rest of the developed world (in which I now include China) is just following the the Japanese attempted reflationary model, which has failed. This world also has a demographic headwind from an aging population. Interestingly the Japanese became an important exporter of gold to Hong Kong when the gold price was last at USD1700-1900/ounce (individual Japanese were selling off the gold their had previously accumulated).
I do not expect the USD POG to get as low as 1045, but I think it can easily fall under 1350. I do not know when that may happen. Gold may hold up at a reasonable level until after the US elections as the Fed keeps cutting interest rates to help Trump's election. In the past QE was not positive for gold - it helped equity prices. For that we need QE for the masses - which is fiscal stimulus I think.
I still have a considerable portion of my portfolio in goldies, but I am hoping for better prices (ie a bounce) or waiting for other event to occur before I sell. Its always good to have cash for the choices it provides as opportunities present.
loki
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73.5¢ |
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Mkt cap ! $1.564B |
Open | High | Low | Value | Volume |
72.0¢ | 73.5¢ | 70.5¢ | $11.81M | 16.34M |
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No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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73.5¢ | 489207 | 13 |
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3 | 40913 | 0.720 |
4 | 180065 | 0.715 |
10 | 281488 | 0.710 |
7 | 537045 | 0.705 |
Price($) | Vol. | No. |
---|---|---|
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