“Now the third great bull market is underway. It began on December 16, 2015 when gold bottomed at $1,050 per ounce at the end of the 2011-2015 bear market. Since then, gold has nearly doubled. That’s a nice gain, but it’s small change compared to 2,200% and 760% gains in the last two bull markets. When it comes to capital and commodity markets, nothing moves in a straight line, especially gold. But this pattern suggests the biggest gains in gold prices are yet to come. And right now, my models are telling me that gold is poised for historic gains as the third great bull market gains steam.”
USAGOLD note: In this analysis, Ricards list three “drivers” for gold that he says “would put it at $14,000 per ounce by 2026.” We are on board for much higher prices (and we have a great deal of respect for Ricards and his writings on the gold market), but predictions of stratospheric numbers prompt us to wave the caution flag. We hope that Ricards turns out to be right, but we wouldn’t buy gold based on the metal going to a five-figure number within the next five years.
Repost from 10-24-2020