Before you read on, we warn you that the information provided below for Gold, is not for faint hearted people.
The yellow metal is going to face a 10% shortage as a result, it is to be priced approx. $1,500 per troy ounce by end of this year and reaching around $5000 per troy ounce by 2020.
Obviously people are gonna react like,
Even the price of Silver is gonna shoot up around $30 per ounce.
"The world has been walking from crisis to crisis and we see risks that this may not change. The importance of that dynamic for the precious metals is mirrored by the high correlation between potential US GDP (gross domestic growth) growth and gold quotations" BoA Merrill Lynch analysts said.
Global economy is facing a crisis. And you thought that Brexit was serious? Pff… that was just a symptom of economic problems yet to come.
Precious metal analysts considered gold as a safe haven during crisis. It was also a solid bet when yields are being suppressed by aggressive monetary policy(not anymore?)
Some other analysts are trying to be more accurate with their estimates. Societe Generale analysts believe gold could reach $1,350 per ounce in the early part of next year but then drift lower. Swiss bank major UBS sees an average price of $1,400 per ounce across 2017.
If you find all these math and stats too much to hear, then you have only one thing to know. If you have some gold, you’re gonna be a rich. If not, you’ll never get to see gold.
As mentioned in the topic, it’s gonna become something like ‘Vibranium’. And we’re gonna realize that we’re not Black Panthers to wear it.
Brace for Impact!