JP Morgan says $1300 barrier will be breached in 2018
Gold was down marginally today at $1263, but since reversing in its latest attempt to breach the $1300 barrier, it is down about $31 (from $1294). Silver has followed along though with a greater percentage loss. It finished today $15.93, down about 15¢ on the day and $1.09 from it’s recent high water mark of $17.27 (11/17). JP Morgan, however, believes that the $1300 mark will be breached by the second half of 2018 saying “As we believe gold rallies on the back of US real yields potentially stagnating in 2H18, we see even greater upside potential in silver given its historical tendency to outperform gold during outsized rallies.” Not sure what they mean by “outsized”, but they think gold will be trading in $1340 range by 2018 year end.
Quote of the Day
“We’re in a stage where if nothing is changed, we’re about to go from stagnation to stagflation, with a significant rise in inflation and a wholly significant imbalance in the economy, which is very difficult to anticipate at this stage. But the outlook is not exactly terrific.” – Alan Greenspan (12/6/2017)
Here we are in December, chugging along toward the end of the year. In the recently released December issue of News & Views, we concentrate on the gold market itself with a variety short but informative reports with the upcoming year in mind:
• On the ghosts of Decembers past
• End-of-year gold and silver price predictions
• U.S. Mint makes a mint selling gold coins at a 25% mark-up
• Gold’s mysterious waterfall drops
• The gold/quality man’s suit ratio
• And a long run of “Notable Quotables” for your reading pleasure
If you are not already a subscriber, we invite you to sign-up for free immediate access to the December issue, as well as future issues of our newsletter. We think you will enjoy the subject matter and gain from our take on recent events in the gold market.
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