How Long? (Before Gold Hits the New High)

12 May
Gold Bull Room to Run 2016

How Long? (Before Gold Hits the New High)

Like Jeopardy!, today’s post comes in the form of a question.

How long?

It’s getting close, but how long?  

How long before gold makes a new all-time high?

We’re not trying to be tricky, since gold is already making new all-time highs all around the world. 

Gold has recently set new record highs in major currencies like the Australian and Canadian dollars, the Swiss franc, the euro, China’s yuan, the Russian ruble, the Korean won, the Swedish krona, the Indian rupee.

It has made new highs in lesser currencies as well, including the monetary units of – in  alphabetical order – Afghanistan, Argentina, Brazil, Chile, Columbia, the Czech Republic… and right on through to Vietnam, Vanuatu (that a South Pacific island nation, in case you’re prepping for a future Jeopardy! appearance), Yemen, and Zambia.  

But how long before gold makes a new all-time high in US dollars?

Gold traded as high as $1,900 in September 2011.  That means that with gold trading around $1,700 as we write, it will need to climb almost 12 percent to reach its all-time high.

That doesn’t appear to be a daunting task in this bull market.  After all, gold is up more than $650 an ounce since it low in 2016.  That a gain of 62 percent.

Twelve months ago, last May, gold traded at its low for the year of $1267.  It has appreciated more than 34 percent in a year.

As we identified long ago, gold is in a primary bull market.  

Whatever your feeling about the response of Washington and the Federal Reserve to COVID-19, the policies that have been implemented do not represent a change from those that have driven gold to its gains of the last few years.

They are a continuation of those liquidity and deficit spending policies.  We aren’t taking bets on when gold crashes through its old highs to new records.  It’s not a contest.  But it looks like it will be sooner rather than later.

To position yourself for profit and protection in the gold bull market, speak with an Republic Monetary Exchange professional today.  They are prepared to help you make gold and silver a part of your portfolio in a safe and secure way that will provide you with peace of mind.