The Gold Bull Market Is Just Getting Started
The comments below are an edited and abridged synopsis of an article by Erik Lytikainen
This year marks the 50th anniversary of President Nixon’s decision to suspend the convertibility of US dollars into gold. At that time, gold was $35 per ounce. As we approach the August 13 golden anniversary date, a review of the past 50-years is worthwhile.
Up for discussion: Strategic view: gold could see $25,000 in 10 years; the Great Reset; the bursting of the tech bubble; the technical and tactical views; and gold options sentiment.
Final thoughts: “We are very bullish for gold over the next ten years, and we will be looking for good entry points for gold, silver, and gold miners here in 2021. We will not be surprised to see $25,000 per ounce of gold by the year 2030. It will likely be a volatile ride higher, with large drawdowns along the way.”
“Technical analysis suggests that the $1,800/oz and $1,650/oz levels are good entry points for gold at this time. Options Sentiment also indicates that now is a decent time to accumulate more gold and/or precious metal mining stocks.”