Gold Market Comparison: 1970s vs 2000s
By GCRU Gold News on Thursday, July 21 2016, 00:00 - Permalink
There is no reason to believe that history will repeat itself in identical fashion but I have a feeling it will. The crisis of the international monetary system started in the late 60s that collapses the Bretton Woods Agreement and delinked the US dollar from gold in 1973 is not over but in a slow process to a reset. Price projections are probabilities based on incomplete information and I don’t predict a price of $25,000 even though I don’t exclude it in a hyperinflationary environment. My estimate for a reset has been a gold price of approximately $5,000. Gold is definitely being accumulated and taken of the market both by individuals and states (through central bank buying). All the information I get points to that.