Information on gold and precious metals is found in the articles in this section.
All opinions expressed are those of the author.
By Charles Kubach, Mine-Engineer.Com
January 5, 2019
I was absolutely correct on Bitcoin, though as it tanked, dropping from $15,000 to $4,000, wiping out billions in wealth for those dreamers that saw it extending its run to infinity. Reality and sound economics always wins, in the end. It is currently trading at $4,168 and is a investment to make only if one would not mind setting the money on fire, then if it tanks again, they will not be financially traumatized.
But back to gold, as three determinants play a large part in the value of gold. First is Supply and Demand, the second is the value of the dollar (as gold is bought in US dollars), and the Doomsday Effect (the fear that the economy could go into a major correction downwards). With the stock market jitters increasing since the last quarter of 2018, I feel this will be the primary driver of gold for much of 2019, and many will buy gold and continue to add to their holdings, as they witness more peaks and dips daily, weekly or monthly in the stock prices around the world.
So, for 2019, I will again use $1,500 as the top for gold, since the major financial experts do not predict any recession in 2019, but global economies are retreating a bit, and this will get many to think about buying gold. Again, I do not see it dropping below $1,200, and only mention a low for 2019 because cycles are not straight up, they go up and down, periodically.
So, until next time, may the luster of golden light shine in your portfolio, and keep you wealthy in 2019.
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