The gold bull market is back
“There is this humorous saying: ‘It walks like a duck, it sounds like a duck, and it walks like a duck. Maybe it is a duck?’ The prices of gold and silver have gone up quite substantially since June, with gold for the first time since 2013 trading at around 1,500 USD/oz; silver trades close to 17 USD/oz. Where do we go from here? The rise in the price of gold appears to be a ‘catch up’ price movement. Gold has been trading at what appears to be a discount for quite a while. As we pointed out in our Degussa Market Report on 25 April 2019, at that time, the fair price of gold would have been around 1,500 USD/oz. We now consider it necessary to raise this estimate.”
USAGOLD note: Degussa goes on from there to give a bullish price estimate for the future. . .at the link above.