RE:What effect will crashing gold prices have Slamdunk, I think the macro picture is indeed quite interesting and is a wild card on timing and price of the victoria sale.
You've got some pundits calling for a 2021 rise in the price of gold and some calling for a retreat to a new base.
I'm starting to think it's just going to play in a range for some time, and then go higher, unless gold investing goes mainstream and then it goes really higher, which could happen at any moment, or never.
On the one side you have the G7 wanting to maintain fiat currency respectability and push the price down and then you've got Russia, China, etc trying to move away from the US dollar and building gold reserves to support international trade outside the dollar.
People talk about the dollar losing reserve currency status as if this is a singular event. It's a gradual thing, as is evidenced by the steady increase in trade outside the dollar that has happened over many years. Therefore I lean towards thinking it will continue its gradual decline in value and importance despite knee jerk moves up.
I don't think the gold rally has ended. Maybe a short pullback.
Don't fight the Fed for me, is like we're already going thorugh that with gold. It should be higher than it is. And it's not just the Fed but the investment companies/advisors. They've done well with the way things have been for decades.
Seems to me gold is holding up well despite the headwinds and I don't see any major chart damage, while there is the potential for big upside if the gold bugs are right. But hey, I could be wrong, it feels like there are so many factors in play.