Gold at 7-Year High

Read what you want into this........

Last Thursday:

Gold surges to 7-year high as investors seek safety trade

“So far ... gold has demonstrated its safe-haven qualities and we stay long the metal,” UBS analysts led by Wayne Gordon said.

The firm said that shorter-term prices look set to test new highs, which could mean gold topping $1,650 in the coming weeks. That said, UBS cautioned that potential gains could be capped if the coronavirus-related disruptions are limited to the first quarter.

Citi is even more bullish. On Wednesday the firm raised its six-to-12 month target on gold to $1,700 per ounce, and said that gold could top the $2,000 level in the next 12 to 24 months.

The firm said that some of the action in gold could also be due to other unknowns in the market, including the U.S.-China trade war, as well as the upcoming U.S. presidential election.

(https://www.cnbc.com/2020/02/20/gold-surges-to-7-year-high-as-investors-seek-safety-trade.html)


Gold.  Gold.  Gold.  Always been cherished, and most likely, always will be.

From this past January:
Gold Prices Could Climb to Another Record High in 2020
https://www.barrons.com/articles/the-price-of-gold-could-hit-a-new-record-high-in-2020-51577964603

(current record high is from 2011)


But there's definitely cautionary stuff about gold as well.......

Fake-branded bars slip dirty gold into world markets (August 2019)
https://www.reuters.com/article/us-gold-swiss-fakes-exclusive/exclusive-fake-branded-bars-slip-dirty-gold-into-world-markets-idUSKCN1VI0DD


I believe those harried prospectors...... 49'ers they were called...... had a word for that:  Fool's Gold.


Grace & Peace & Love to you all -

Matt


p.s. Remember what China and Russia are doing with gold........
https://matthonnold.blogspot.com/2019/06/china-buying-lots-of-gold.html