Gold News Today

Seeking Alpha/Clif Droke/2-28-2020

“A simple glance at gold’s recent performance is sufficient evidence that the metal’s price has drastically benefited from the worries swirling around global financial markets. The gold price even threatened to go parabolic until the Feb. 25 trading session, at which time profit-taking became evident. Yet gold’s price is still at a multi-year high and shows no signs of reversing its well-established long-term upward trend anytime soon. And as recent history suggests, the gold bull market which began in October 2018 will almost certainly continue beyond the coronavirus threat.”

USAGOLD note:  Droke considers gold’s post-virus prospects . . . It had entered into a bull market, he says, long before COVID-19 made its appearance on the global stage.

Myrmikan Research/Daniel Oiver

“For the benefit of new readers and to jog the memories of long-time followers, let us work through the admittedly circuitous but conceptually simple reasoning behind the reason why the dollar price of gold is heading well above $10,000 per ounce.”

USAGOLD note:  This study ties into the one posted below:  “Unpleasant arithmetic for gold bugs”.  What happens when someday, not if, according to Myrmikan Research, the world wakes to discover that the “much of society’s wealth has become entrapped in non-cashflowing malinvestments?”  “That,” says the firm, “is when gold will shoot into the multi-thousands per ounce.”  The two articles together are good reading for the deep-thinkers who frequent this website.

Repost from 2-24-2020

Seeking Alpha/Clif Droke

“Who would have thought that words from the world’s most highly valued tech company could have a measurable impact on gold prices? Yet, that’s exactly what happened [last] week as a warning from Apple Inc. sent investors scurrying to buy gold. In this report, we’ll discuss this latest development as I make the case that gold’s most critical factors support a continued intermediate-term (3-6 month) rising trend. Among these factors are increasing worries over the global growth outlook and the metal’s rising relative strength versus Treasury bonds. Ignoring the fact that the U.S. major indices are near record highs, investors can’t seem to shake off their case of the jitters as anticipation of future economic turbulence is becoming widespread.”

Repost from 2-24-2020

Columbia News/Carla Cantor

“This single cosmic event, close to our solar system, gave birth to 0.3 percent of the Earth’s heaviest elements, including gold, platinum and uranium. ‘This means that in each of us we would find an eyelash worth of these elements, mostly in the form of iodine, which is essential to life,’ [Astrophysicist Imre] Bartos said.”

USAGOLD note:  And economists wonder why humanity has a dogged attachment to the barbarous relic. . . . .Was it Carl Sagan who used to say that “we are made of star stuff”?

Repost from 5-9-2019