"I think it will, you know, it's straightened up near 4,000 bucks. It's had a huge run over the last two or three years, and one of the biggest reasons, of course, it's, it's your typical hedge against a big market crash. And we're closing in Doug on three years of 20% gains. The NASDAQ's up 17%, even after a 20% pullback."
"But the interesting thing is, and China has all but said that they're buying as much as they can get a hand on big, major central banks because of the huge debt that's all across the world in, you know, emerging markets and, and the, the western, uh, markets. Gold has been, there're being constant central bank buying constant, you know, and, and it, and there's no signs that it's gonna abate at all."
Gold prices have climbed sharply toward $4,000 per ounce after years of steady gains. Investor demand as a hedge against a potential market crash has driven much of the buying. Major central banks, especially China, have been accumulating gold because of global debt concerns. Limited supply dynamics and high mining costs are supporting higher prices. Gold mining stocks have recently outperformed even major tech rallies. Some analysts project much higher long-term targets, while more conservative estimates place a nearer-term target around $5,000. Rising bubble-like market signals raise concerns about a possible sharp market decline and safe-haven inflows.
Read at 24/7 Wall St.
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