A single day, $20 dollar spot gold price jump opened the door for many analysts to jump back into the “gold price speculation” business – but let’s get one thing straight – nobody knows what the price of gold is GOING to be…NOBODY. And if they actually knew, they wouldn’t be telling you.
So if you are wondering if gold will continue going up, joint the club – we all wonder. But don’t bother asking the so-called experts. They don’t know. They’ll simply tell you what they’ve seen in the past, or what the data seems to indicate, but they don’t know. Nobody does.
What we know is this – The spot price of gold goes up when there are financial rumblings in the international financial markets that make people nervous. (and by people, I mean the reptilian banker types) Currently those rumblings are taking the form of a tremendous slowdown in the Chinese economy and the subsequent slow down in commodity consumption and fears of deflation…
When you mix into the worldwide economic salad that fact that the US has again bungled the interventionist foreign policy of the middle east, has ongoing wars in Afghanistan and Iraq, is bombing people in Yemen and Pakistan and can’t figure out how to make the bitter pill of democracy a bit more palatable to ISIS and the Taliban and is about to nominate Donald Drumpf as the Republican party’s candidate – gold is jumping.
I think it’s because the spot price of gold knows better than anyone else what a chaotic mess the world is in. I know, I know… gold can’t know…but aggregated trading behaviors reveal a great deal about how the world’s population feels about the economic condition of the world’s economies…
Stand by – gold could be in for a little run here…
