Have a look at the long term gold price on a log scale. Look at the last bull market from 2002 until 2011.
Once again we are in a bull market. If it plays out like the last one we should see $1616 very soon -maybe in a month or two. This should be followed by an acceleration of the trend taking us through the all time high and on to $2200 by mid 2021. At that point there will be no stopping the future price ascent.
The reason for the slow rise at the start is the gold miners. They want to show their shareholders that they are selling gold forward on every rally. At some point they will realise that this is something which will make them look foolish so they will stop selling. Then there will be nothing to stop gold's ascent.
Near term target (2 months): $1616
Medium term Target (2 years): $2200
Once again we are in a bull market. If it plays out like the last one we should see $1616 very soon -maybe in a month or two. This should be followed by an acceleration of the trend taking us through the all time high and on to $2200 by mid 2021. At that point there will be no stopping the future price ascent.
The reason for the slow rise at the start is the gold miners. They want to show their shareholders that they are selling gold forward on every rally. At some point they will realise that this is something which will make them look foolish so they will stop selling. Then there will be nothing to stop gold's ascent.
Near term target (2 months): $1616
Medium term Target (2 years): $2200