I treat POG forecasts with a grain of salt as they are always...

I treat POG forecasts with a grain of salt as they are always wrong and the more aggressive they are the more they are wildly wrong. I don’t know why organisation make such price forecasts when they are always wildly wrong. If they instead just stated POG has the potential to get to all time highs it would be more sensible.

However, I did find the following comments in the attached article of interest which suggest POG could go higher or at least it partly explains recent increases in POG.

“It’s not just China, but it’s the whole east that has been accumulating precious metals. All the central banks are accumulating precious metals.”

Kiener said the exchange for physical gold was incredibly tight.

“Wherever you look, there’s hardly any physical (gold) in size and if you look at size delivery, you have two-to-three-months delivery time,” he said. “That tells you the market is tight.

“When the market is tight, your outstanding positions are under pressure, so your short positions in the market are massive – you don’t need very much to move that market.”

https://www.australianresourcesandinvestment.com.au/2023/01/05/could-gold-reach-us4000-in-2023/