Month: October 2020

International Man/Shanmuganathan Nagasundaram/10-11-2020

“As I will explain, what lies ahead is a disorderly change in the world’s monetary system and one that will eventually bring back gold as the lynchpin around which world commerce functions. For more than 100 years, gold was viewed as a barbaric relic – but we will see gold rise like a phoenix from the ashes of the US dollar and other fiat currencies.”

USAGOLD note:  The author believes that gold at $2000 is cheaper than gold at $35 an ounce in 1971 and offers the reasons why he believes that “at a minimum, gold prices have to go up at least 4x.” The author is the chief investment officer for India-based Plus43 Wealth Advisors.

The post Is gold cheap at 00 per ounce? first appeared on Today’s top gold news and opinion.

SeekingAlpha/Equity Management Academy/10-8-2020

“Whoever wins in November will inherit this economic disaster that we are living through. Businesses are closing, unemployment is high, and the economy has been devastated. Unless we get clear policies to address the damaged economy, the entire system is in grave danger. To survive, the system now needs endless amounts of stimulus. We do not know how much, but each time we get stimulus, such as in 2007 and then this year, it helps for a time, and then the system stumbles again. The $3 trillion this year did not fix the system, which is still struggling mightily. When the last batch of aid runs out, we are going to see a tsunami of unemployment, evictions and bankruptcies on top of a probably pandemic spike as the weather turns cold and people remain indoors more with other people. In such troubled times, remember that gold is a tier 1 asset. You can borrow up to 90% against it in many cases. Only currencies can be used as a tier 1 asset, which makes gold a currency. Gold has been a currency for thousands of years.“

USAGOLD note:  Gold’s stature as a tier 1 asset comes not only the result of an official edict but also because of its acceptance globally as the ultimate asset of last resort – the final means of payment against which all other currencies, including the US dollar, are measured.

The post Gold: The economic damage has been to the system and the U.S. dollar first appeared on Today’s top gold news and opinion.

1. Gold prices log first loss in 4 sessions  MarketWatch
2. Gold slips from 3-wk high on prospect of limited U.S. stimulus  CNBC
3. Price of Gold Fundamental Daily Forecast – Plunges after US Dollar Spikes Higher  FX Empire
4. Gold price back below $1,900 – MINING.COM  MINING.com
5. Gold prices drop, US Tech Stocks tick up  Nairametrics
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