RE: "A decisive move above $1,000 US could propel gold to levels that are hard to imagine."
The way gold has been trading over the past several months doesn't make much sense except against a background of manipulation and price fixing. The resistance against it going back over $1,000 seems to be huge.
IMO, if it begins to run, it will be because someone decides to let it run and/or loses control over the ability to fix prices. From various articles I've run across, there are strong incentives against letting that happen, but I don't know how credible those pieces are. They aren't mainstream by any stretch of the imagination, but that doesn't necessarily make them inaccurate. If they're even close to true, then if bubbles are formed by too much air, gold is in a kind of vacuum.
If gold were to stabilize against the fiat money supply, yeah, I agree, it would be hard to imagine. I sincerely doubt that will ever happen, but gold at a million dollars an ounce would be conservative if it did. |
