RE: $4500 Gold? I'm Starting To Think It Is Possible12 Aug 2020 18:48
Yes, of course it's possible.
I bought my first Krugerands at £73 each way back in the day and have been hooked on Au ever since.
I remember when it hit $100 and all the talk was of it hitting $500 within a year, it took about 6 yrs I think, then all the talk was that it would hit $1000, which it did eventually.
So the question is not IF Au will hit $4500, but when. Those with vested interests will of course talk it up, those more level headed buyers will bide their time and await the falls, which will come, and buy when they think the low has been reached.
It will not reach $4500 anytime soon (IMHO) so I will not be buying just yet. I think a retrace is on the cards and although the economic situation is a bit crazy at the moment, I really can't see sustained buying at these levels. Gold can never be described as a 'Bubble' but this rise has the feel of a manufactured rise which will run out of steam.
Still a better bet than 'Bitcoins' though!