Musings:
Just some thoughts of an old man :).
With regard to the metals, this correction is very good and needed. But I don't see it going too deep, although I hear there are some big bets against gold.
A guess based on basically nothing, is for gold to roam between $3,500 and $5000 for the next year, but more likely to rise past $5,000, than fall below $3,500, for these reasons.
The two primary variables holding up the gold price are currency debasement, and the US debt bomb, both of which seem structural at this point.
What could drive the price above $5,000 could be some international incident, like war, or an economic collapse of some sort, like the economy or AI bubble which is highly leveraged.
The AI bubble is just huge, and we have China and the US engaged in AI in two very different ways.
China is approaching AI by integrating it into their production, while the US is sort of investing billions in it with the "field of dreams" idea of build it and they will come i.e. industry.
I think the Chinese have the better approach!! What if they don't come-lol?
So far, as we all know, gold, silver and the PGM's have been moving together buoyed by gold. And I think this will go on for a while, but at some point I expect silver, and maybe the PGMs to rise on their own as they all have different buyers and fundamentals.
Gold is being supported, in the main, by the huge buying by countries and central banks, while for silver it is the little guy. As long as gold keeps silver afloat with people's eyes on it positively, given the supply/demand reality, the gold silver ratio should collapse in silvers favor?
JMO |
