Talking Gold, with Andrew Maguire
Read the original article for a more detailed overview. The following post just scrapes the surface…
For the full analysis into the gold and silver markets, presented in illuminating detail, watch Talking Gold in Episode 17 of Kinesis’ ‘Live from the Vault’.
In this week’s breakdown of the gold and silver markets, Andrew Maguire looks at the impact of strong bullish drivers on gold’s recent surge to near $2000 per ounce.
Strong bullish drivers
In Andrew Maguire’s opinion, the current global environment has formed a “perfect storm,” of strong bullish drivers, creating an unprecedented global demand for physical gold and silver.
- 0 — negative interest rates.
- Debt to GDP rising to 127%.
- Central banks are de-dollarizing.
- M2 at 24%.
- The FED nationalising bonds.
- Geopolitical and Political risks are escalating.
Even at a glance, the economic and political landscape goes a long way to explaining such extraordinary demand.
Is gold going to crash?
For many, however, the question remains — is gold going to experience a crash in price?
A cursory look at the current RSI (Relative Strength Index) will tell you there are many signs that gold is long overdue a drop in price. However, in this unique market, Andrew Maguire reports that technical overbought indicators are being swamped by the aforementioned strong bullish drivers.
With these strong bullish drivers showing no indication of ceasing, Andrew Maguire believes we are experiencing extremely promising conditions for gold and silver investors. According to Andrew Maguire, over time, these unprecedented conditions will result in gold breaking through the $2000 dollar per ounce mark — and beyond.
Andrew Maguire’s parting thought:
“Expect some really volatile sessions, maybe, on the way to $2500, but don’t be phased, in my view, these stops are not flushable — dips will be bought.”
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Next Episode: Andrew Maguire sits down and talks all things gold and silver with another special guest from the precious metals industry.
