Did they see that bounce off two Thousand dollars today well tells us Something it tells us that maybe we have A new normal for the price of gold and That new normal It's gonna cost us [Music] I was making a video on Tuesday and the Price of gold jumped up as I was Recording it went from the 1980s to the 2020s we had some news in there we knew It was coming but it really wasn't clear Why we saw such a big jump and why it Held the mud was swirling nothing was Clear we had jobs numbers we had OPEC Plus production cut news it come out a Few days before that and right about That time some news was floating up from Jamie Diamond saying that Banks were Still at risk now some of this would Have directly affected the price of gold Some of it would have been indirect at Best and none of those clips on their Own should have really spurred a big Movement Like That trading really seemed Impulsive at the time Looking back people are going to say it Was the jobs numbers because those Numbers would be throwing some warning Signals for an actual recession but We've had warning signals for a Recession for a while now at least a Year and if there is a clear picture It's probably just that it wasn't any
One single thing all of this matters but At the same time none of it does Oh you heard me say something about an Actual recession maybe you're thinking To yourself that we're already in one But we're not people believe official Labels the moment that it's declared That we're in a recession that's when we See the change people will change the Way they spend right now the US is being Told we're not there yet but we should Be and that should push the price of Gold to two thousand dollars on its own Inflation is another any of the efforts To combat inflation like increasing Interest rates those have inflated Yields on Treasury products and as we've Mentioned before that's a competing Product it's a competing product of gold So that is a headwind but that doesn't Change the fact that we're seeing Historic inflation and that inflation in Any other normal situation would also be Pushing the price of gold above two Thousand dollars You know I saw one out let's say there's No reason to try to fight the fact that Gold is in a bullish market and I think It's a really good way of putting it Gold could pull back again it's actually Doing that right now as I'm recording This but higher prices are actually the Trend right now and that's a little bit Strange to say considering just three
Weeks ago the price of gold was 1840 and It was trending down Now according to the charts the current Floor for gold price is 18.98 and that's The support line the next number to Watch for is 2070 or 2075 right in there That's the all-time high for gold if Gold closes above that level will 2 300 Is no longer a pie in the sky that's the Inflation adjusted all-time high from 2011 by the way that number isn't just Made up now these numbers are a mix of Psychological barriers and moving Average bands on charts nothing says Gold has to stay inside those lines Really my point here is just to say that We're no longer expecting gold to be in The 1700s we're expecting it to be in The 2000s so a drop to 1900 is a dip and I mentioned my 10 15 trigger is where I'm going to buy more aggressively well Those new price points would be 1800 and 1700 and with everything Currently in play Trend being what it is I'm not holding my breath As for buying plans I'm still not ready To grab more yet but if I was not Already ahead of my running goal might Not be too worried about it it has been Only three weeks I have more patience Than that I'd still be waiting a bit Personally but at some point you have to Realize that gold can jump on complete Surprises nobody knew Silicon Valley
Bank was going to collapse inside of 48 Hours last year it was Russia invading Ukraine now I've waited both price runs Out but it's hard to say the price is Going to fall again this year like they Did last there's just more going on Economically and it's all piling up Nothing has actually resolved yet and Yesterday the Bank of America updated Their outlook for gold saying they Expect 2100 in Q2 others are talking About twenty three hundred dollars by The end of the year again everybody Seems very bullish so what could change That if you're hoping for lower prices You have to ask that question you could Look at I don't know maybe the FED Catching some luck with inflation not Pushing us into that recession you could Look at the global economy weakening Against the U.S economy sorry for my Non-us viewers but that would mean a Stronger dollar that would mean weaker Gold for the reasons that I've mentioned Before more competition from treasury Products and then less demand because of That higher exchange cost So this isn't meant to be analysis so Hopefully I'll jinx it it'll go back Down to 1950. it's just taking all the Things going on blending them up and Then seeing how they taste it's pretty Clear we have a new normal for Short-term gold expectations I mean if
It falls below two thousand dollars what That is is a dip and if it pushes on to New all-time highs above that 2075 Shouldn't really be a surprise in this Coin by the way that I haven't been able To get into focus is a 2009 ultra high Relief double eagle from the US Mint That question comes up a lot they are Always expensive there's not a whole lot You can do about that but they aren't Always based around the spot price of Gold I was able to get this one when Spot was high but the asking price Hadn't changed I think it got it for 22.50 at the time which really isn't That far from where these buffaloes are Right now Now back to the point I think that it's Time to adjust expectations for gold Price we've seen analysts of multiple Large Banks now pointing to higher Prices we know that gold price Ebbs and Flows but the trend line is up it's up And to the right that's pretty clear I'm Getting less hopeful about price cooling Off and if we see a solid month of Higher prices well I guess my Baseline Is going to have to change to match Whatever's going on now again I'm no Analyst I'm not trying to play one on TV I'm just bringing this up because I've Been saying that I'm not buying because The prices feel high the market just Seems bipolar these days even if and
When I get used to two thousand dollar Gold well I'm not going to completely Throw out the idea that it might retrace To eighteen hundred dollars because That's what's been going on things been Crazy it's been really difficult to Follow the logic not just in gold price But in the world in general And maybe now that we're starting to be Convinced of the normalcy of that two Thousand dollar gold it's going to drop Just to keep us on guard I mean I would Take it if it did but Let us know what you think are we going To see all-time highs soon 2100 2300 by The end of the year let us know and then While you're in the comments be sure to Hit that like button if you found any of This interesting be sure you're Subscribed with notifications turned on If you'd like to see more on the topic And if you're still here thanks again For watching I always appreciate your Time Take care [Music]
