Don't know if the low in gold is in because I was expecting 1270-1300-ish. But we may get macroeconomic support.
A new zero hedge article (
https://www.zerohedge.com/news/2018...ust-had-small-taste-coming-financial-collapse) sums up what I wrote here long ago.
Either lower yields with at severe bear market in stocks or inflection point for the new regime with higher inflation and interest rates. Would mean a very different world compared to the one from 1980-2018. But I think that is still years off and yields and inflation will decline.
Basically we have treasuries + gold + yen on the one side (safe assets) and everything else on the other side (risk/bubble assets).
While we cannot be sure of the outcome we do know the timing, first half of 2018 one side or the other with gold either making smaller gains (very good if everything else is crashing) or becoming the ultimate asset.
When the new financial regime starts, still some years IMO, the much higher interest rates will mean much lower multiples for stocks and real estate. Higher taxes or bankrupt states too. Will be an interesting future. Central banks balance sheets (30 year bonds will lose extremely) under water by hundreds of billions or even measured in trillions. So higher taxes again to pay for the losses. And no way to reverse QE with huge unused amounts of base money waiting to be put to use to increase M2/M3 via bank credit (base money for 1000% inflation is already created right now, private bank credit is the only thing missing).
