GoldCore Update – Gold’s Real Inflation Adjusted High at USD 7,150/oz

Gold
Gold is trading at $1.063/oz this morning and traded between $1,048/oz and $1,066/oz over the last 24 hrs. In EUR and GBP terms, gold is trading at €710/oz and £648/oz respectively. Gold continues to gradually eke out gains and consolidate at near record levels on continuing oil strength and dollar weakness. Buying of physical remains robust on all price dips and this bodes well for further record highs in the short term.

Most analysts have been wrong and bearish on gold in recent weeks, months and years and the predictions made by more bullish analysts that gold would reach its inflation adjusted high of over $2,300/oz were far from the consensus. But there is a gradual realization among some analysts that we are living in unprecedented financial and economic times and quantitative easing, near zero percent interest rates and the explosion of public debt on western governments’ balance sheets all mean that gold is very likely to reach its inflation adjusted high of 30 years ago at over $2,300/oz.

Indeed Bloomberg reports today that were the more accurate methodology of measuring inflation used in 1980 used today, than the real gold price high in 1980 would be $7,150/oz.  The increasingly respected John Williams, an economist and the editor of www.Shadowstats.com told Bloomberg that the government has understated the cost of living over the past two decades with adjustments (hedonic adjustments etc.) in the way it measures the basket of goods and services monitored by the US consumer price index, or CPI.

Silver
Silver is currently trading at $17.70/oz, €11.84/oz and £10.80/oz. Silver rose to a recent nominal high $20.88/oz in March 2008. After an 18 month period of correction and consolidation, silver looks set to challenge that high in the coming weeks. We continue to be bullish on gold and particularly silver and believe that silver will likely surpass its non inflation adjusted high of $48.70 per ounce and its inflation adjusted high of some $130 per ounce in the coming years and probably sooner than even more bullish analysts expect.

Platinum Group Metals
Platinum is trading at $1,371/oz and rhodium is trading at $1,750/oz. Palladium is currently trading at $337/oz.

 

Find out First – Register Now For GoldCore’s Exclusive Market Updates

Stephen Flood

Stephen Flood is the CEO of GoldCore. He is a former Wall Street equity trader and FinTech expert. He has been involved in the precious metals markets since 2004 and has appeared as an expert contributor on CNBC, CNN, BBC, RTE & Bloomberg TV and has had articles published in the Irish Times, Irish Independent and The Sunday Business Post.

Also on news-goldcore-com

Videos

Why Gareth Soloway is “unbelievably bullish” on gold and silver

Gold and Silver Chart Analysis January 2023 with Patrick Karim

Gold, Rate Hikes and The Central Bank Illusion?

Blog posts

Why Gareth Soloway is “unbelievably bullish” on gold and silver

Click below to watch What’s going on with the gold price? Is the silver price set for a further pullback? Technical analysis expert Gareth Soloway of InTheMoneyStocks joins Dave Russell of GoldCore TV for a monthly look at the gold and silver charts. Volatility has returned to the precious metals markets with bot #gold and […]

READ MORE

US Federal Reserve Sticks To The Script But For How Long?

Those watching the gold price and price of silver will have noticed the sharp uptick following the Federal Reserve’s announcement, yesterday. This was despite the Fed doing exactly what everyone expected them to do. For now, the Federal Reserve is sticking to its relatively well-telegraphed plan but how long will it be until they need […]

READ MORE

China and the US at sovereign debt war

US dollar hegemony has long been a standard feature of the global financial and economic system. But developments in recent years and months (weeks, even) suggests there are more than a handful of countries who are looking to rely less on the US dollar. Instead countries who have long been at the mercy of the […]

READ MORE

Featured

The King and Queen will be Gold and Silver

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Why Gareth Soloway is “unbelievably bullish” on gold and silver

Gold and Silver Chart Analysis January 2023 with Patrick Karim

Gold, Rate Hikes and The Central Bank Illusion?

Blog posts

Why Gareth Soloway is “unbelievably bullish” on gold and silver

Click below to watch What’s going on with the gold price? Is the silver price set for a further pullback? Technical analysis expert Gareth Soloway of InTheMoneyStocks joins Dave Russell of GoldCore TV for a monthly look at the gold and silver charts. Volatility has returned to the precious metals markets with bot #gold and […]

READ MORE

US Federal Reserve Sticks To The Script But For How Long?

Those watching the gold price and price of silver will have noticed the sharp uptick following the Federal Reserve’s announcement, yesterday. This was despite the Fed doing exactly what everyone expected them to do. For now, the Federal Reserve is sticking to its relatively well-telegraphed plan but how long will it be until they need […]

READ MORE

China and the US at sovereign debt war

US dollar hegemony has long been a standard feature of the global financial and economic system. But developments in recent years and months (weeks, even) suggests there are more than a handful of countries who are looking to rely less on the US dollar. Instead countries who have long been at the mercy of the […]

READ MORE

Featured

The King and Queen will be Gold and Silver

READ MORE