Today, gold closed at $1,781 an ounce. As per our months’ long forecast, should gold continue to trade in this range for several more days, we forecast it will move above $2,000 per ounce… and silver will follow.
What we have been long forecasting has finally hit the mainstream mindset as evidenced by the Bank of America parroting Gerald Celente.
On 24 June, the price of gold peaked above $1,779 per ounce, its highest price since October 2012. With the metal’s price already up 16 percent this year, gold could pass $1,800 soon, perhaps within a few days, according to Bank of America strategist Paul Ciana.
If gold breaks through $1,800, Ciana sees it challenging the $1,920 all-time high price set in 2011. That could happen in the second half of this year, he said, adding that, under ideal conditions, gold could set a new high of between $2,114 and $2,296.
Those conditions include stock markets’ “irrational exuberance,” low bond yields, a bumpy and sluggish economic recovery, and lingering U.S.-China trade tensions.
Moreover, as reported in last week’s Trends Journal, advisers to the world’s wealthy have been urging their clients to move assets into gold.
Again, when, why and where gold prices are going have been forecast in the Trends Journal over the decades with unparalleled precision accuracy as evidenced in our 6 June 2019 “Gold Bull Run” Trend Alert.
