When have we had an inflationary environment similar to the 1970s since then? I think we have not. So how did gold do in the 1970s? I suspect relatively well. And the inflation is going to be much, much worse IMO. It is a no brainer that gold is going higher. If you disagree we will just have to agree to disagree and I'll remember this thread and come back and point out to you how wrong you were.
Jim Cramer is partly to blame. He's telling his followers to cut the gold position in half and put that half in bitcoin
Not a matter of disagreeing. A matter of putting up something besides opinion. Inflation went sky high in the 70's but it took awhile. No snapping finger and wah-lah.
What did gold do since 2009 when everyone (including me) was saying exactly this same thing? The correlation isn't perhaps as strong as you suspect and neither is the certainty of the inflation you're expecting. You're only hearing about it out if proportion now because conservatives just decided to be concerned about deficits and inflation again at the end of January after a 4 year hiatus when they ignored it for some strange reason.
Today's article: https://www.fa-mag.com/news/will-institutions-switch-from-gold-to-bitcoin-61104.html
Try to concentrate on metals in general when asking this (gold is just too manipulated by the Fed). Then watch the miners price action. Someone (we know who) is shorting metals (miners and producers) stocks HARD ....and just like that, traders are BUYING them on every dip. The spot is how you manipulate prices but the daily market price action shows a better picture....buying the hell out of the dips shows your overall bullish theory is real. Concentrate on just a few big names to start. AA, X, CLF ect..
Because no one wants it. You can't force your views on the market and expect to make money. All of the metals are dead money right now. Why doesn't really matter and is only ever known after the fact.
When all the longs in gold give up, gold will rise. Before that happens, too many will keep selling any bump ups.