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Chronically Low Gold Price Forecasts

- Steve Saville - Speculative Investor

The low gold prices predicted by Bloomberg Median Analysts based on a four year cycle appear to be far off the mark for the simple reason that after 2009, due to the decaying and uncertain monetary system the value of gold's worth as a saviour and measure of value vis a vis the dollar has got elevated manifold. Today the central banks including of emerging economies are accumulating and adding gold to their reserves. Between 2011 and 2012 all nations central banks have added gold to their holdings. This includes countries like France, UK, Greece, Venezuela, USA and Portugal who were already holding gold in excess of 70% as percentage of their reserves. And don't discount the Chinese who are the largest producers but don't allow their gold to move out, in fact are looking for mining opportunities in South Africa, Canada, Australia and possibly in Mangolia and Colombia. Indians hold approximately 20000 tons of unaccounted gold that is more than the holdings of a few leading Central bank holdings put together. Gold at $ 1300 in 2015 looks to me improbable if not impossible. Gold will provide the smooth sailing from one monetary system to another when that occurs. History bears testimony to this and it has an uncanny habit of repeating itself. So be advised.

Commented 4150 days ago

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Beginning of the headline : The chart displayed below was taken from a recent article at The Daily Reckoning and shows the median gold price forecasts of analysts monitored by Bloomberg.It shows that from 2007 onwards the average forecast has been for the gold price to be flat or higher over the coming 1-2 years and to then decline sharply such that the price is much lower after 4-5 years... Read More

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