Aug 25, 2020
The pandemic will end, but what happens to economic fallout? The most important thing is that gold has hit multiple record highs. We had a slight retracement last week. Investors were buying the dip. GLD has had the highest volume on record. Silver has tripled since March, but it hasn’t hit the $50 levels of its past peaks. Gold could be ending the year in the $2200-$2300 range. Gary was predicting $2060 gold for now in April. Silver will challenge and break $30. If gold keeps moving, silver will hit the $40-$50 range and perhaps above. The Fed’s bailouts have no upper limits. They’ll keep buying bonds as long as it takes. No economic recovery on the horizon. Dollar could decline to 88 before all is said and done. Precious metals will continue to have intrinsic value as money printing continues unabated. It’s a race to zero. Mines were closed for several months and the US Mint ran out of silver rounds. $34 on this leg of the rally and on the next it could go well over $47.