1970 gold rose from $35 ounce to $600 usd once in 1980 1700% or x17
A base line of 3000 usd ounce and conservatively allow for around 300% rise over three years.
What cased gold to rise in The 70s, inflation, geopolitical and economic uncertainty, loss of confidence in the USD and high energy price.
Now Abandoning the USD US political uncertainty. War in Ukraine War in Palestine. Brics countries replacing oil trade in USD with other currency. 25% last year. Supply chain disruption Tariffs. High energy costs US china conflict. Brics countries developing their own global trading system Inflation The Euro and Pound an alternative safe haven US civil war Japan selling 1.3 trillion in US treasuries
1930 When President Hoover imposed tariffs which caused a gold boom. The world entered into a great depression which took years to recover.
Wages in the early 1970s started at $60 week but rose to $200 a week in 1980 therefore its my conclusion that retail consumption of gold has little or no effect on the gold price.
Summary We have forces from the 1970s and 1930s that are influencing the price of gold. If history repeats gold should rise 300% or more within 3 years. This will bring huge profits to RMS. If we repeat the 1970s gold boom RMS will make $8000 AUD profit an ounce. within 3 years. By 1974 gold had risen 500%.
RMS Price at posting:
$2.47 Sentiment: Hold Disclosure: Held
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