RE:POG isn't going anywhere anytime soon..phacken crooks..banksPrice of gold as. Frustrating as it is to be below 1800;
will be at 1900 plus before it ever gets to 1600
the government naaraitive is only temporary inflation
they are trying to talk it down like they did in the 70s remember how that turned out right now is there really anyone who believes current inflation is only 4.5%
price of food up 20 to 50 % price of gas up 40. % oh ya I forgot the government doesn't count gas and food in their calculation for inflation what about construction costs
a roll of wire that was 105.00 28 months ago cost 399.00 now as of Friday actually There is real inflation out there and the average person feels it .Higher wages come next and higher wages are never temporary they actually become compounding and cause permant inflation in 2022 most of the trade unions contracts come due they will demand wages higher than inflation or they will strike like in the 70s and 80s and want shorter term contracts like in the 70s and 80s
this will happen in 2023 and will push gold much higher
unless the governments put prime rates up to 6-7. % and this will have the same effects that 19-21% rates had in the early 80s do you really think they will go down that path again
in Canada a 1% increase in mortgage rates puts 35% of households unable to pay their mortgages that being said higher rates them self in the early days anyway are inflationary making buying a house more expensive once they get high enough they bring down the cost of everything because nobody can afford anything
so if you think 2023 gold will be lower to make that happen we would need a lot higher interest rates