The current spot price of gold is $2,656.41. But what will it be a few months or years from now?
From earlier today we have a self-proclaimed expert saying:
Gold Won’t Save You From Historic Market Bubble Bursting: Henrik Zeberg
“I think gold is actually in a kind of a smaller bubble by itself now,” Zeberg stated. “I think you’re going to see a rather strong decline in gold to the very reasons that I just said talked about here.”
Zeberg’s bearish stance on gold is rooted in his expectation of a deflationary bust. As the economy contracts and inflation falls, the US dollar is likely to strengthen, making gold a less attractive asset.
“I don’t want to hold gold into that environment,” he said. “I actually think it’s a very bad environment to hold gold.”
From an entire panel of experts on October 22nd:
Latest Gold Price Forecast & Predictions | Gold Eagle
Gold Forecast 1 Year
Bullish: $3,200
Medium-term price drivers:
US dollar, bear market in stocks and recession, investor sentimentGold Forecast 3 Years
Bullish: $4,825
Long-term price drivers:
US dollar, US budget deficits, central bank monetary debasement, negative real interest rates, and the potential for an uptick in sovereign buying.
I’m reminded of something an old engineer I knew many years ago was fond of saying:
The wonderful thing about standards is that there are so many to choose from.