Potential gold rebound really scares as we face really vague economic outlook , but the markets seem to operate with another information
It seems the height of hubris to place a bet that gold will go more than double it's record high, in just over a year, from where it sits now. 1450 to 4,000 in say, 18 months? Sheesh. I agree there will be some uncertainly as the elections near, but that will be resolved in LESS than a year from now. Will the uncertainly cause that huge of a rush to the "safe haven"? I can't see how or why.
I don't think anyone is buying gold over election uncertainty. Dollar being near all time high despite $1T+ / year budget deficits during good times (record high stock market, low unemployment) provides a reasonably good entry point. However, who knows, maybe the Fed really can expand their balance sheet / run QE to infinity forever. Short term, biggest risk to gold would be resolution of geopolitical issues and return to robust growth, no global slowdown.
One thing that is predictable; humans like to bet or go casino. There are thousands of similar worthless news out there in internet. when gold, bitcoin .... price is low low, someone would say price would go sky high. when stocks price is high high, someone would say price would drop like stone in water. There are many counter trend investors / traders who enjoy going against the wood grain, against the flow of river, against the herd.
Yeah, exactly. What would it take to get $4K Gold? Hong Kong getting invaded by the Chi-Com military and Trump getting shot dead the same day...