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As this Von Mises bloke once said, it’s the crack-up boom. Apparently he knew something about economics.It's certainly possible that stocks don't really go down much. All depends if the FED just prints to save the system. Things will fly but Gold and Silver would lead. they would also outperform relative to the overpriced/held up tech stocks.
Yep, that is going to happen. Just not sure how big of a deflationary bust comes first.As this Von Mises bloke once said, it’s the crack-up boom. Apparently he knew something about economics.
https://www.investopedia.com/terms/c/crackup-boom.asp
*should* see a breakthrough of $30 in GDX today.
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In a note published Sunday, commodity analysts at Goldman Sachs said they expect higher gold prices through 2024. In the report titled "Gold's shine is returning,' the analysts raised their 12-month price target to $2,050 an ounce.
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We had a crash in 2020 so another one this soon is highly unlikely.Umm he DOES realize that crashes happen right after peaks, right?![]()
Random Number Generator.![]()
Goldman Sachs raises 12-month gold price target to $2,050 as the metal's shine returns
Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals priceswww.kitco.com
These guys are supposed to be really smart and they think gold is only going to go up about $40 over the whole of 2024? Who are they kidding?
Hmm... Not according to this:My memory of Mises' teachings is that the crack up boom precedes the deflationary bust, not the other way around.
So says Mises, anyway.
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Goldman Sachs raises 12-month gold price target to $2,050 as the metal's shine returns
Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals priceswww.kitco.com
These guys are supposed to be really smart and they think gold is only going to go up about $40 over the whole of 2024? Who are they kidding?
That’s what the milkshake straw guy says in Post #5568If we were any other country other than the European Union than yes all of this money printing would lead to hyper inflation. Because the US is the worlds reserve currency that won't happen though. Not unless the reserve currency switches to another currency and right now there is no other game in town.
As it stands right now we just export our inflation to other countries which is why other countries want out but for them there is no other choice. China is already hurting. Does anyone really think they are going to stop doing business with their largest trading partner (The US)?
We do have inflation and as long as the fed reserve is around that will always be the case. The only way we can get hyperinflation going forward is through a money printing so massive that ends up in the hands of ordinary Americans or if we were to get cut off from the goods from the rest of the world.
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One particularly frustrating aspect of 2023 for investors has been waiting for a recession that never came, as many Wall Street banks also bet on that happening. BCA Research, who provides our call of the day also expected a pullback, and say that is now inevitable for 2024, possibly crushing stocks by 27% from current levels.
“We do not expect any further rate hikes in the U.S. over the coming year unless inflation significantly picks up. However, investors are pricing in too much easing before a recession arrives, and too little once it does,” BCA strategists warned in their outlook that published on Monday.
And stocks are “likely to decline significantly in response to a recession,” leaving the S&P 500 trading between 3,300 and 3,700 next year, they say. ...
GDX is severely underperforming... I'll leave you to come up with the why.
GLD first line is about 188.25 and coming up fast.
View attachment 10874
Approx 30-40% undervalued to where GLD is right now.
View attachment 10876
I'm thinking $33 GDX will see the first pullback, but I would love it if we go straight to 35.This looks good. GDX busting through $30 and should head straight to $35. Gamestop just happens to be waking up too. If we closed the week here it looks like the highest close since 2020.
The highest GLD resistance on that previous chart was ~$190.98. I had to go look it up.
Bullish now Jelly?The only question in my mind is how soon do we hit $35 in GDX? We have the Dec. Fed meeting on the 12th, which no doubt will have an impact on pricing. Will GDX hit $35 going into the Fed, then correct? Or do we hesitate until the fed meeting and launch to $35 from there. I'm going to estimate 3-4 weeks to hit $35
Been bullish for a while, but this is the only place I can actually complain.Bullish now Jelly?