Saturday , 13 July 2024

What Can We Expect Next From Gold? “Not Much!” Says Kelsey Williams

With the current gold price at $1,958/ozt., the $2,000 number…seems to be the price most gold traders and investors are focusing on at this time…[but does that] price hold any special significance other than what most in the gold community are thinking about? [Well,]… it does. [Let me explain.]

Gold at $600

Gold at $2,000/ozt. today is the same as it was in 1980 at $600/ozt. In other words, on an inflation-adjusted basis, gold is no more valuable today than it was forty-two years ago…This is consistent with gold’s role as a store of value.#$$4$

Gold at $3K and $10K

We have heard much lately from those who claim that gold could easily rise to $3,000/ozt. or more; maybe even $10,000/ozt. Some say it could happen quickly, too…but likely not quickly or easily, because:

  • gold at $2,000/ozt. already represents fully a 99% decline in the purchasing power of the U.S. dollar
  • and, in order for gold to rise beyond $2,000/ozt., and stay above that number or increase to a higher level, there would need to be further significant declines in U.S. dollar purchasing power that are apparent and permanent.
  • The price of gold reflects the effects of inflation that have already been absorbed into the economy; not those which haven’t occurred yet.

What Can We Expect Next From Gold?

Not much.

  1. The price could run up a bit again to as high as $2,100/ozt., but we probably have seen the highs for this move up and,
  2. if there is an extended period of U.S. dollar strength or continued improvement in the economy, then the gold price could decline sharply – and it could stay down for several years, too.
The above version of the original article by Kelsey Williams (kelseywilliamsgold.com) was edited [ ] and abridged (…) to provide you with a faster and easier read. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.

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