nice read15 Nov 2020 14:56
Gold Digger: Gold bull runs last for ~8 years. This one is only 18 months old... 9 hours ago | Reuben Adams
It’s been a chaotic week for gold prices, book-ended by the US election and promising vaccine news. The latter caused gold prices to fall sharply as investors piled back into value stocks.
It has since recovered to ~$US1,880/oz.
“I think it will move back towards $US2,000 per ounce relatively quickly,” says Guy Le Page.
“We’re running out of time [but] I’m still standing by $US2,300 per ounce by early next year.”
And remember — this bull run is still young.
“If you’re a student of history, what you’ll see over the last 50/60 years is that real gold bull markets are of substantial duration,” legendary gold investor Rick Rule told * earlier this week.
“They typically last upwards of eight years, and by my reckoning we’re into this one for around 18 months.”
Structural bull markets like this one act as ‘a rising tide which lift all boats’ where gold-linked equity indexes — not just the best stocks — “still rise by “500-600 per cent” over the long term.