Gold Price - Where is it heading?

[Garpal Gumnut]

Good afternoon gold believers

RBC Capital Markets told clients on Monday it expects records to keep falling, lifting its 2025 average gold price forecast to $US2835 an ounce (cited AFR Alex Gluyas electronic article 09/09/24).

Kind regards
rcw1

A correspondent ( not an ASF member ) contacted me who believed 2835 is a Fibonacci number where starting from 0 and 1. That is Fn = Fn-1 + Fn-2, where F0 = 0, F1 = 1, and n≥2.

It is not. The next Fib number is 2584 and then 4181.

gg

 

[rcw1]

A correspondent ( not an ASF member ) contacted me who believed 2835 is a Fibonacci number where starting from 0 and 1. That is Fn = Fn-1 + Fn-2, where F0 = 0, F1 = 1, and n≥2.

It is not. The next Fib number is 2584 and then 4181.

gg

Thank you for that Garpal Gumnut, rcw1 takes that as read .... rcw1 aint the smartest tool in the shed, so will hafta believe ya bloke.

Got very sore shoulders at the moment cause digging a deeper hole for rcw1 gold ha ha ha ha ha ha and rcw1 still thinking am 21 ... the mind is strong but da body is lacking in response....

Have a very nice evening @Garpal Gumnut

Kind regards
rcw1

 

[mullokintyre]

Thank you for that Garpal Gumnut, rcw1 takes that as read .... rcw1 aint the smartest tool in the shed, so will hafta believe ya bloke.

Got very sore shoulders at the moment cause digging a deeper hole for rcw1 gold ha ha ha ha ha ha and rcw1 still thinking am 21 ... the mind is strong but da body is lacking in response....

Have a very nice evening @Garpal Gumnut

Kind regards
rcw1

Save your shoulders.
How deep is the hole?
I have a range of holes in storage that I could sell to you for a very reasonable price.
Our deepest range is 3 metres (shipping gets difficult when its deeper than m).
Widest is 1.5 meters in diameter.
We can ship square holes, but they have to be made to order, and there is currently a long lead time.
Mick

 

[rcw1]

Save your shoulders.
How deep is the hole?
I have a range of holes in storage that I could sell to you for a very reasonable price.
Our deepest range is 3 metres (shipping gets difficult when its deeper than m).
Widest is 1.5 meters in diameter.
We can ship square holes, but they have to be made to order, and there is currently a long lead time.
Mick

ha ha ha ha ha ha rcw1 likes you mullokintyre thats really funny ... hole is a tad deeper than @Garpal Gumnut hole in the ground ha ha ha ha ha ... but the lad used an excavator whilst silly rcw1 used a pick and shovel ha ha ha haha made for a nice thirst though ....

 

[bux2000]

I have a range of holes in storage that I could sell to you for a very reasonable price.

Sorry to break it to you Mick but you may have left your holes in storage for to long, now making them a hard sell.
A quick search of the interweb revealed all new holes now come with an autofill function

All the best

bux

 

[mullokintyre]

Sorry to break it to you Mick but you may have left your holes in storage for to long, now making them a hard sell.
A quick search of the interweb revealed all new holes now come with an autofill function

All the best

bux

Look, these are quality holes, NOS holes to be exact.
None of the new fangled ideas like autofill and electronic OHS warning signals, but they are built to last.
These holes are designed to be still around when Australia becomes a republic.
Mick

 

[bux2000]

These holes are designed to be still around when Australia becomes a republic.

You may well be right, but an empty hole has never carried much weight with me

bux

 

[ducati916]

Could be in the silver thread:

​ ​ ​ ​ ​ ​ You can observe a lot just by watching. Yogi Bera. In this recent post, analysis of London Bullion Market Association (LBMA) data indicates that the London silver market, the world’s largest physical silver trading market, has an open interest of total standing claims of between 4.3 billion (B) oz. and 6.4B oz. in its spot/cash market.​ When it is noted that these spot claims are for immediate ownership of physical metal bars with total global annual production of silver estimated at 1.003B oz. in 2024 with a 265M oz supply deficit in 2024, our curiosity is naturally awakened. Recent LBMA data also shows us that at August 31, 2024 the total London vault ‘float’ or vaulted silver not owned by ETFs stood at 0.309B oz. or 9,599 tonnes (please see Figure 1 below). At July 31, 2024, the total prior silver float in London vaults stood at 0.336B oz. or 10,440 tonnes.​ This yields a 27M oz. or 8.1% draw-down of the total London float in the month of August. Consider that of that 0.309B oz. in London vaults, the large majority of the London vaulted silver is closely held and not available to market.​ Generously assuming that even 50% of this vaulted float is available to market leaves a net float of London vaulted silver of 0.155B oz. available to market. If the August run rate of draw on the London float were to continue in September and onward, it will not take too many months before this market becomes disrupted. And that will occur before the float goes to zero. ​ Figure 1 - London Vaulted Silver Holdings; data source: LBMA, chart by goldchartsRus.com Limited physical silver and gold holdings in London’s vaults and the mad paper leverage of claims created on these physical bars created with oversight by the Bank of England gives false pricing and gearing that can rapidly lead to default by the bullion banks that have sold these ownership claims for metal bars into the global financial market.

jog on
duc

 

[rcw1]

Good morning
Gold is good

 

[Sean K]

Good morning
Gold is good

View attachment 184168

May have broken up out of the box. I expect some further chop chop as we've seen the past several months.

The very long term C&H projection was around the 2600-2700 mark we identified way back, so will be interesting to see if it does actually get there.

 

[divs4ever]

Save your shoulders.
How deep is the hole?
I have a range of holes in storage that I could sell to you for a very reasonable price.
Our deepest range is 3 metres (shipping gets difficult when its deeper than m).
Widest is 1.5 meters in diameter.
We can ship square holes, but they have to be made to order, and there is currently a long lead time.
Mick

and here i was , going to sell him a used ( manual ) post hole digger

( the machine ones alert the neighbours something is happening )

 

[rcw1]

and here i was , going to sell him a used ( manual ) post hole digger

used plenty of them in rcw1 younger days fencing and stuff... still paying for it !! anyways, gold is good, US $2,568.20 and ... on and on it goes bloke

Kind regards
rcw1

 

[Garpal Gumnut]

Nassim must be an ASF member. We've been discussing this for the last 24 months on this thread.

gg

 

[rederob]

Just $25 off $2600 which is less than a single percentage point, so that won't be hard.
Friday has been kind so far....

 

[ducati916]

Gold starting to go mainstream:



Meanwhile MSTR and Mr Saylor seem to be cornering the market a la the Hunt brothers in BTC:



Full: https://www.theblock.co/post/316397/microstrategy-buys-18300-bitcoins?modal=newsletter

There will come a point soon where gold moves up in $100 surges.




That day is getting closer.

But the REAL money will be made when the Treasury is forced to revalue gold. That's when you get the price jump made in thousands of dollars overnight.

jog on
duc

 

[divs4ever]

Gold starting to go mainstream:

View attachment 184243View attachment 184242

Meanwhile MSTR and Mr Saylor seem to be cornering the market a la the Hunt brothers in BTC:

View attachment 184241

Full: https://www.theblock.co/post/316397/microstrategy-buys-18300-bitcoins?modal=newsletter

There will come a point soon where gold moves up in $100 surges.


View attachment 184244

That day is getting closer.

But the REAL money will be made when the Treasury is forced to revalue gold. That's when you get the price jump made in thousands of dollars overnight.

jog on
duc

although i am no fan of cryptos , i do watch

and a BIG concern is safe storage .. and between exchange collapses and new government/international regulations that equally applies to PMs

in times of crisis nations find a way to acquire privately held precious metals

gold is an inert , lifeless metal .. it is people and governments that do crazy things to acquire it

 

[Sean K]

Schiff has been a gold bull for a while but this is a bit off the charts.

(Kitco News) - Gold could reach $10,000 an ounce if Vice President Kamala Harris wins the U.S. November election, said Peter Schiff, chairman of SchiffGold and founder & chief market strategist of Europe Pacific Asset Management.

"If Kamala Harris is president, we got no chance of doing the right thing," Schiff said. "The debt will increase exponentially … We'll be at $40 trillion. We could easily be at $50 trillion of total national debt during her first term if we're doing $4 or $5 trillion of debt per year. She is going to try to blame all the problems that the government created on capitalism and use that as an excuse to implement socialist policies."

Gold price to surge to $10k under Harris administration - Peter Schiff

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

 

[Garpal Gumnut]

Schiff has been a gold bull for a while but this is a bit off the charts.

(Kitco News) - Gold could reach $10,000 an ounce if Vice President Kamala Harris wins the U.S. November election, said Peter Schiff, chairman of SchiffGold and founder & chief market strategist of Europe Pacific Asset Management.

"If Kamala Harris is president, we got no chance of doing the right thing," Schiff said. "The debt will increase exponentially … We'll be at $40 trillion. We could easily be at $50 trillion of total national debt during her first term if we're doing $4 or $5 trillion of debt per year. She is going to try to blame all the problems that the government created on capitalism and use that as an excuse to implement socialist policies."

Gold price to surge to $10k under Harris administration - Peter Schiff

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

It certainly would be nice for us Gold Bugs


A 1929 Kissel Gold Bug.

However it seems that Schiff has developed Trump Fever which is usually a self limiting illness on which one can spend one dollar or ten thousand seeking a cure. it will improve in 3 months or 90 days depending on your wallet.

Yes Gold will appreciate but getting to $USD 10,000 within two years is fanciful.

Or maybe it is not . Gold and Trump fever is very contagious lol.

The Americanos are going quite loco now that the election is less than 3 mo. away.

gg

ps. Isn't Michelle Makori a honey.

gg

 

[ducati916]

Schiff has been a gold bull for a while but this is a bit off the charts.

(Kitco News) - Gold could reach $10,000 an ounce if Vice President Kamala Harris wins the U.S. November election, said Peter Schiff, chairman of SchiffGold and founder & chief market strategist of Europe Pacific Asset Management.

"If Kamala Harris is president, we got no chance of doing the right thing," Schiff said. "The debt will increase exponentially … We'll be at $40 trillion. We could easily be at $50 trillion of total national debt during her first term if we're doing $4 or $5 trillion of debt per year. She is going to try to blame all the problems that the government created on capitalism and use that as an excuse to implement socialist policies."

Gold price to surge to $10k under Harris administration - Peter Schiff

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

Mr Sean,

Not an outrageous prediction:



Both parties are advocating for a lower USD




Which if POO rises increases the deficits further.




Too low of a price shutters Shale oil and WTI jumps higher.

So WTI will move higher and in a falling USD situation, deficits blow out further.

Nothing will break this pattern. Simply because there are only 2 solutions: (i) cut spending massively, LOL or (ii) there is a productivity miracle that allows the US to grow GDP significantly to bring the Debt/GDP ratio down.

Nothing on the immediate horizon.

Huge gains in AI could actually accelerate job losses making the situation worse.

Of course all of the above is if there is NO RECESSION.

If there is a recession and jobs are cut, then the SHTF.

This is Gundlach's measure:



Recession is on the cards probability wise.

Which means deficits blow out to 16%-20% of GDP. That would see gold pretty close to the $10,000 mark. Add in momo as Hedge Funds etc go long and Commercials (banks) have to cover their short positions (read the analysis from London market) as they can no longer short paper because physical is being demanded, it's actually easy to see $10,000oz



Look at how short the banks are, yet, POG keeps moving higher in a still high FFR environment. Once Powell cuts and cuts the FFR, gold will gain a tail wind.

The fiscal situation is dire.

Inflation is dead, LOL: https://www.eater.com/24241174/restaurant-owners-chefs-explain-restaurant-pricing

It's not just restaurants:



Recession is definitely picking up speed.

jog on
duc

 

[Sean K]

Mr Sean,

Not an outrageous prediction:

And there certainly is precedence for 4x and 8x in relatively short time. 70s, 2001-2010. We are x2 since the 2019 break up.