RE:RE:RE:RE:RE:RE:EightWhat many don't realize is that this push upwards in the gold price is primarily being accomlished via central bank buying as they are preparing for the monetary transition away from fiat/USD.
John Q Public isn't even participating for the most part, if anything they are selling into the strength as we have seen outflows from GLD. What happens when a psychological trigger such as $2,500 turns apathy into FOMO?!
All the best and brightest minds who follow the gold & silver market have said multiple times that the historical average of Americans' investable funds allocated to the precious metals comprise about 2 to 3%. Where do we stand right now? At about half of one percent. We would need to see a quadrupling of demand for gold just to get back to historical norms, let alone account for any overshoot for the FOMO crowd. Ever try to take a drink from a fire hose?
$1,700 gold drove WRN (when the project was smaller and less robust) to $4 a decade ago. What happens when the price of gold has doubled and FOMO kicks in? Hah, for what it's worth the bulls and Sooner can both be correct. We will hit $6, thereby validating those who believe we will break above $5 and we should be able to eclipse $10 thereby validating us bulls.
I believe a wise man once quipped, "T'aint no rush like a gold rush". If you doubt the power of sentiment, take a look at bitcoin or Nvidia for example. Be patient gold bulls, our time is coming soon.