Gold price could smash $10,000 on crashing dollar & other factors – Jim Rickards

[Assembler]

Gold price could smash $10,000 on crashing dollar & other factors — Jim Rickards
Published time: 29 Jan, 2018
https://www.rt.com/business/417286-gold-dollar-prices-rickards/
A weak US dollar, a possible war between the US and North Korea or the impeachment of Donald Trump could result in one of the longest-ever rallies for gold, according to precious metals expert Jim Rickards.
"This is gold's breakout year. We are in the third bull market of my lifetime — and we have a very long way to run,” Rickards said in an interview to Kitco News.
The reasons for the forecast gold rally are a possible plunge in the dollar, a US war with North Korea, a trade war with China and President Trump’s impeachment, he said.
These events could push gold prices to $10,000, Rickards said. Gold prices have slumped in recent days after reaching more than a year high of $1,370 last week. On Monday, the commodity was trading at $1,347.
However, a surge may be accompanied by a rise in commodities prices.
"All gold does is it preserves your purchasing power. But, if gold is $5,000, then oil is probably $400, and everything is double or triple, you're not really ahead of the game," Rickards said.
The last week’s increase was linked to a statement by US Treasury Secretary Steven Mnuchin, who said on two consecutive days that the US administration favors a weak dollar in trade. The dollar sank to a three-year low on his remarks.

 

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[Peyton Manning]

settle down there skippy

"could" I've been hearing for a year on the rush commercials that silver will hit 100 anytime

 

[Assembler]

Thanks for the input. Yes $10,000 is on the high side.

 

[WaterScoop]

ALWAYS CONSIDER AND ANALYZE THE SOURCE

James G. Rickards is the editor of Strategic Intelligence. He is an American lawyer, economist, and investment banker with 35 years of experience working in capital markets on Wall Street.

Do you think Rickards stands to gain by injecting fear into the marketplace? Ask yourself this.. “if you had a secret where you would make a ton of money would you share it with anyone you don’t really know”?

Or say something to make you a train load of money and you have the scruples of a lawyer.

I think you can see where Im going with this.

 

[Geobound]

ALWAYS CONSIDER AND ANALYZE THE SOURCE

James G. Rickards is the editor of Strategic Intelligence. He is an American lawyer, economist, and investment banker with 35 years of experience working in capital markets on Wall Street.

Do you think Rickards stands to gain by injecting fear into the marketplace? Ask yourself this.. “if you had a secret where you would make a ton of money would you share it with anyone you don’t really know”?

Or say something to make you a train load of money and you have the scruples of a lawyer.

I think you can see where Im going with this.

View attachment 1543821

So you're saying I listed my kids on Ebay for nothing then??

 

[WaterScoop]

So you're saying I listed my kids on Ebay for nothing then??

I find it hard to believe that you want to sell your children to the highest bidder...LOL

 

[KevinInColorado]

All I need to say is Kitco makes their money selling gold and precious metals. They will tell you anything to get you to buy. If they really believed it, they would be buying themselves instead of selling.

In other words, this is BS.

 

[Johnnybravo300]

I wish it would go to 10k. I'd quit my job and run my claim through my sluice box!

10k sounds high to me but maybe half that.

 

[Honest Samuel]

settle down there skippy

"could" I've been hearing for a year on the rush commercials that silver will hit 100 anytime

It be a while before I hit 100 anytime soon.

 

[Honest Samuel]

All I need to say is Kitco makes their money selling gold and precious metals. They will tell you anything to get you to buy. If they really believed it, they would be buying themselves instead of selling.

In other words, this is BS.

They make money buying and selling.

 

[Clay Diggins]

I find it hard to believe that you want to sell your children to the highest bidder...LOL

I heard it was a "buy it now" price of $18.42.

Nobody in their right mind would auction their children. They don't really have much market value being a net financial loss. The "buy it now" listing just puts the kids on notice they better grow up quick or end up as more eBay fodder destined to spend their lives in a closet collecting dust like an unloved metal detector.

Or it could have... maybe ...been a joke?

Back on topic - I can assure you the price of gold will exceed $10,000 some day. What day that will be is unknowable. Heck even Jim Rickards will be right eventually ...just like a broken clock.


Heavy Pans

 

[Nitric]

If it hits and stays at $10,000 anytime soon? We're in big trouble and a pile of gold won't help us.

Impeachment of Trump will make gold jump that high? No, Gold is bigger than Trump. Bringing up charges on him won't do anything that big. Even if he was convicted of something and removed from office? Doubt it.

People don't realize how much gold is actually out there. If it jumps up? most people unload, a few hold out, but it draws it out of the woodwork. I've seen it!!! Piles of it! I would have never believed how much gold is in one little area of the world.

At $10,000 you would have to have some Really big players pushing it. There also has to be buyers? Just don't see it happening anytime soon.

Just fear pushing, trying to recreate 07,08,. You can only push fear on people for so long, then the idea wears off. They become numb to it and most(average guy) need/want the money for something else.

 

[Geobound]

I heard it was a "buy it now" price of $18.42.

Nobody in their right mind would auction their children. They don't really have much market value being a net financial loss. The "buy it now" listing just puts the kids on notice they better grow up quick or end up as more eBay fodder destined to spend their lives in a closet collecting dust like an unloved metal detector.

Or it could have... maybe ...been a joke?

Back on topic - I can assure you the price of gold will exceed $10,000 some day. What day that will be is unknowable. Heck even Jim Rickards will be right eventually ...just like a broken clock.


Heavy Pans

It's okay.......there was momentary panic, but then I realized I don't actually have kids...........oh my neighbour is going to be pissed at me now!

 

[loco oro]

This subject is where the (Russian Knox) and chinas (closet)will come in to play. To artificially keep prices low,to further weaken the dollar, dump 10 tons on market with one hand while scarffing up a hundred with the other.

 

[Goldwasher]

if gold hits 3k it will be equivalent to its late '70's early '80's jump

if it hits 5k we are in a lot of trouble as a Nation.

careful what you wish for

 

[uglymailman]

Don't worry. If gold hit 10K, minimum wage will be 200 bucks an hr..

 

[Treasure_Hunter]

Posts deleted, please keep politics out of threads not in our politics forum.

 

[WyoTrex]

ALWAYS CONSIDER AND ANALYZE THE SOURCE

James G. Rickards is the editor of Strategic Intelligence. He is an American lawyer, economist, and investment banker with 35 years of experience working in capital markets on Wall Street.

Do you think Rickards stands to gain by injecting fear into the marketplace? Ask yourself this.. “if you had a secret where you would make a ton of money would you share it with anyone you don’t really know”?

Or say something to make you a train load of money and you have the scruples of a lawyer.

I think you can see where Im going with this.

View attachment 1543821

Exactly, Have you ever kept track of analyst upgrades and down grades on popular stocks 3-6 months following their recommendation?. If you check the institutional holdings report for the following quarter, quite often those that have posted an upgrade are actively selling and those that posted an downgrade are buying. Their reason for posting up/down grades is self serving.

 

[WaterScoop]

Exactly, Have you ever kept track of analyst upgrades and down grades on popular stocks 3-6 months following their recommendation?. If you check the institutional holdings report for the following quarter, quite often those that have posted an upgrade are actively selling and those that posted an downgrade are buying. Their reason for posting up/down grades is self serving.

They(analysts) should almost not be allowed to buy or sell as a conflict of interest or fraud tendency however they do it all the time and.... Poor Martha went to jail?

 

[Jason in Enid]

Nobody in their right mind would auction their children. They don't really have much market value being a net financial loss. The "buy it now" listing just puts the kids on notice they better grow up quick or end up as more eBay fodder destined to spend their lives in a closet collecting dust like an unloved metal detector.