The outlook for gold near term

Denver Gold Forum/Ross Norman – Sharps Pixley

This year, speakers at the annual Denver Gold Forum are making their presentations electronically.  We will post a number of those presentations as DGF makes them available.

photo of Sharps-Pixley's Ross NormanUSAGOLD note:  Ross Norman digs into the problem of illiquidity in the gold market. He shows how the prices in the gold futures market shot far in excess of the spot price as shortages of physical bullion played on the price differentials between the two markets. He thinks the supply/demand balance is headed in the direction of normal even though physical demand continues to accelerate. He then shows a couple of correlations that suggest a top price of $1810 to $1885 per ounce by year end.

Repost from 4-22-2020

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