Thursday
I am regularly asked whether Gold is going to go up, down or sideways. For two decades, my answer has been the same. It is going nowhere. That is not just pedantry, unless one phrases the question correctly, one can have no expectation of a correct answer. It is the currencies whose values are measured by Gold that are on the move.
Where to?
In the short-term (weeks to months), I don’t know. Few values are as volatile as those of currencies.
It is only in the long-term that we can have certainty – down.
Over the course of time, it will take more and more of **** (fill in the name of your currency) to buy an ounce of Gold (or silver).
That is all that anyone can know. Everything else is a guess.
Get out of as much currency as you can and exchange it for cash – Gold.
One dark day in our future, at a point in time unknown, all currencies will collapse to zero value. It will happen quickly and all that we can know is that the US$ will be the last domino to fall.
Success will be measured by how much Gold and/or silver you have managed to hang on to through the excruciation between here and there.