Yes. I think the price of one troy ounce of gold should be around 3 000 USD, not the circa 2000 USD it is trading for now.
The main reason for the price of gold not exploding is according to many research analysts the Federal Reserve and the European Central Bank withdrawing liquidity from the global financial system.
The liquidity drawdown drives up the global interest rate levels up, of course which is another factor suppressing the price of gold.
However, other factors like the 10 trillion USD of excess liquidity or money created by global leading central banks and the global risky situation we are currently finding ourselves in, apply huge upward pressure on the price of gold.
As far as I am concerned, this is a typical chaos theory set up. The initial elements are in place for the price of gold to start rising exponentially. The only thing missing is the proverbial butterfly clapping its wings in Brazil and creating a tornado in Texas.
The pressure is in the system. It is interesting when, not if it will be released.
Naturally, the aforementioned arguments substantiate my personal opinion and estimation that most of the precious metals miners, gold, silver, platinum and palladium producers are trading substantially below their intrinsic value.
Most listed precious metals corporations look like classic Benjamin Graham value stocks, to me, at least.
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