The perfect storm Come September, holidays will be over and players will start thinking bout 2024. On the table are a long list of worries that should fuel gold prices higher. Much higher. Here's just a few obvious considerations to guide my logic > global politics/wars, inflation, credit downgrade of US credit (higher threat of deafult), the inversion the US long bond interest rates (on the rise), movement away from China (near shoring and onshoring). And a real big one is that central banks bought more gold in 2022 than in the last 55 years. Serahc out Gold.org ("Gold reserves by country", August 1/23).
I bet you didn't know that Canada has 0 (zero) gold reserves. In 2000, the knuckleheads called gold an antique asset and sold it off. The price back then about $279. Central banks are woefully under diversified and all that government debt and US dollars they have in reserves is going the wrong way!!
I don't have a crystal ball, but my bet is that the chatter for gold picks up strongly this fall and all it needs to break out is for ther price to pass through the old high.
This brings me back to BTO. I do my research and the fundamentals are really good, and a gold rally plus some M&A in the sector could easily propel this price significantly higher. Much higher! So to me, I am stepping in right here to watch what happens in the next 6 -9 months.