RE: Investors Chronicle24 Apr 2021 07:14
Neither do I! Like all of these media pieces, they're largely personal views. What Alex Hamer also says is that predicting the end of a bull run is "a fool's errand,"
He also, fairly, gives opposing views on the price of gold,
"Gold hit a new record of $2,061/oz in August last year off the back of huge investment demand. It retreated slowly back below $1,700/oz by March as the investment demand dropped. The weaker US dollar and Treasury yields have seen traders go back to gold in recent weeks, however.
Saxo Bank head of commodity strategy Ole Hanson said a further dip was unlikely.....
....Wealth manager Incrementum, which publishes an annual report called ‘In Gold We Trust’, has a “conservative” forecast of $4,800/oz by 2030. This is more optimistic than the banks, although they rarely look that far ahead....
Bernstein has a long-term forecast of $1,500/oz, although puts the 2022 and 2023 average at $1,950/oz. Macquarie Bank has a long-term forecast of $1,400/oz, and sees the metal falling below $1,700/oz fairly quickly. "
So, as always, for every bull, there is probably a bear...I'm a bull myself. TT