Gold prices will go to the shitter initially. Any time yields trend up people dump gold. Take a look at the gold charts from summer onward once the yields on the 10 year bottomed out.
However over the longer term as the dollar gets blown out gold prices will trend up.
Don't let that negate the theme that commodities are all inflating. Take a look at copper. It's now at 4 bucks. Big rally. Same with Palladium. Look at lumber, wheat, corn, soy etc./
Palladium is also extremely rare and a pain in the ass to mine. It also has conventional purposes, since Palladium is used in electronics. Gold is as well, but not to the extent that Palladium is.
Thanks. My art supplies are dependent upon gold spot and I was afraid I couldnt afford much this yr bec back in Aug I had read that gold futures for 2021 were going up to $3000
I think gold backs up to at least 1700 bucks. I lost about 900 bucks in one day last week trying to time the bounce back up before saying fuck it, wait for it to go even lower.
Gold prices will go to the shitter initially. Any time yields trend up people dump gold. Take a look at the gold charts from summer onward once the yields on the 10 year bottomed out.
However over the longer term as the dollar gets blown out gold prices will trend up.
Don't let that negate the theme that commodities are all inflating. Take a look at copper. It's now at 4 bucks. Big rally. Same with Palladium. Look at lumber, wheat, corn, soy etc./
Palladium is also extremely rare and a pain in the ass to mine. It also has conventional purposes, since Palladium is used in electronics. Gold is as well, but not to the extent that Palladium is.
Palladium is up 131.72% over the last 3 years.
Thanks. My art supplies are dependent upon gold spot and I was afraid I couldnt afford much this yr bec back in Aug I had read that gold futures for 2021 were going up to $3000
I think gold backs up to at least 1700 bucks. I lost about 900 bucks in one day last week trying to time the bounce back up before saying fuck it, wait for it to go even lower.