Henrik Zeberg: Why Gold is Heading to $800 Before an Explosive Upside Move
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- Опубликовано: 10 май 2020
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Tom welcomes a new guest Henrik Zeberg to Palisade. Henrik is a macroeconomist who studies business cycles, Elliott wave cycles, and chart fundamentals. Henrik discusses the long Kondratifeff season cycle, of which we are currently in the deflationary winter period where growth slows.
He expects a sharp decline in gold and similar assets like silver and bitcoin. The US dollar will strengthen, and there will be a dollar shortage around the world. This dollar strength is why the sell-off in gold will occur. Henrik forecasts volatile interest rates during this period, which may have dramatic effects on the market.
When inflation kicks in, the Fed will be helpless and will be out of tools to prevent it. As a result, precious metals and Bitcoin will head much higher.
Guest Links:
/ henrikzeberg
Twitter Thread: tinyurl.com/y75utsuv
Time Stamp References:
0:40 - His expectations for gold.
2:00 - Overview of cycle theories.
6:50 - Expect a decline in gold.
12:50 - Positioning for the bounce.
16:00 - Bitcoin expectations.
20:00 - Outlook for copper.
#HenrikZeberg #Oil #Copper #Gold #USD
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The paper markets are so messed up that $800 paper gold is possible. Getting physical gold at that price will be impossible.
1000% percent correct. Gold has gone up in deflation as well. Again like you said try to get it.
Yes the bid ask will be massive with huge premiums
In New Zealand about 35% extra for physical silver at present.
Heard it is something like 50% higher in the UK.
Kezza x yep I’m living and buying in NZ. Saw a silver fern go for $52 ounce. Crazy times
@@johnnybucknell1045 1 Kg silver $1250 on TradeMe the other day. $815.99 NZD spot for 1kg at the moment. That's arround 50% then.
Around the ten minute mark he said silver leads gold and miners lead gold. Not in my life has the miners moved up significantly then gold followed. It does not make any sense. Miners go up after the price of gold moves higher.
nope, historically, the miners preceded the price of Gold & Silver...today less so...because the silver and gold mines are producing less and less...
Gold always leads silver. Yep
Don't you remember 2007-08 when Nickel was Gold ?!
Its because he hasn't a clue yet they put this clown on
None of these analyst make sense they dont even know what they are talking..all they say is silver and gold will move higher.
Harry Dents long lost brother?
Keep dreaming.
The paper price can go to 1 dollar and it still won't change the physical price negatively.
U ain't gonna find real gold at 800 that's for sure.
So why would I care about his predictions?
Lol
Yeah, Hundreds and hundreds of trillions of Yen, Yuan, $, Euro at 0% and negative rates printed out of thin air FOREVER, and gold at $800. Good one. Any body holding gold need not worry about some phony paper price.
This guy want to give you a chance to buy cheap
@@tanjem Riiiight....keep telling yourself that!
How high would the premiums be if the paper price dropped to 800, I doubt you would even be able to find physical.
LOL, I hope this guy put money to where his mouth is. Go short gold future and buy gold put option. See how it will work out!
If he does it right, say w/in the 1770 - 1470 range, he'll make out ok (i.e., sell 1750s, cash in near 1470s)...tho' timing will be key to not suffer too much "pain."
Henrik has been watching Harry Dent a lot, lmao, keep stacking
As much as I like to believe him... his been calling the top since gold price of 1250 1350 1450 1550 1650 1750 ..... Every time he kept moving the ceiling target up and refuse to set a point where he would agree that his model is wrong
Exactly...he'd better do himself a favor and subscribe to Goldonomic. They have been calling it ok since 2004
Interesting info
What he speaks is a very good indicator of where gold will go. Whenever he says gold is going to plunge, buy hand over fist.
At each of these levels, goldonomic advised to BUY!
He will wait forever
no miner gonna sell gold when cost of mining is 1000-1200 $/oz
They are under contracts
True, the gold price never falls below the cost of production.
1) Tell that to oil producers. A lot of them are ready to sell below production cost for certain period of time (need cashflows in order not to be closed and default). He is not talking about a fall to those levels for long-term, but for a short period of time.
2) He talks about paper gold, not physical. Same as paper Oil and physical. Paper oil went to -40 recently. Henric predicted 7 USD by the way.
Despite the above - I do not know whether he is correct or not and I neither support or oppose his opinions.
@@jtclashofclans2135 This shows a complete lack of understanding of oil. 1. An oil well is not easily shut down and you many never be able to reopen it. This is why producers are willing to sell at a loss. 2. It is physical oil that went to $-40. If you held the May contract you had 1000 barrels of physical oil delivered to you. Same holds for gold future contracts.
@@MandM_IMO I don't think this is true. In the past 10 years Barrick lost about the same amount as it made in profits while the gold price was consistently above $1000. According to what you say they should never have lost any money.
Silver 🥈 always leads gold 🥇 🤔🤔🤔 And I thought it's vice-versa 😆
I subscribe to Michael Oliver's PM service. Michael told his subs to sell gold (miners) in late 2012, and to begin buying it back at $1200. His work says PM's are busting out and not looking back. I wonder what advice this guy has given over the last decade....
One morning we will wake up and gold will be over $2,000 then $3,000 and then we will never hear from this fool Henrik again.
That first morning already dawned.
hehe. you guys are fools. this guy was right after all. after 8 months gold continues to drop despite insane money printing. looks like gold will actually correct significantly from current price of $ 1820
Courageous prediction. I hope he's right as it'd be the buying opportunity of a lifetime. I just don't see it playing out that way. The central banks would not have bought at 1100,1200 and higher with such ferocity if there was a chance gold was going lower. I'm also not sure how much technical analysis matters in markets like these.
He could be right but I doubt there will be any physical at that price.
PoketAceJas my thinking as well
Right. Exactly
@@babyfeeg SRSrocco Report explains the pricing pretty well and elaborates on this kind of estimating. ruclips.net/video/xrqVTpBHX88/видео.html
People were backing the truck up at $1475. That is when during March order delays started happening. Even now the price of gold is at elevated premiums. Never mind the 6 trillion dollars being loaned out either.
Too much faith in charts and Elliot Waves in these strange and crazy (real life) times. Good luck Henrik.
Elliott Waves and Robert Prechter called for $10 crude oil when it was trading in the 30's ..... ignore charts at your peril.
It might go to $800.00 but then the premium is going to be $1000.00 =$1800.00 at $800.00 I'll be buying twice as much.
Do you have very many oz for sale at this price?
Someone claiming that "everything is pointing to..." is clearly not looking at everything.
As a fellow Elliot Wave Expert, Henrik's count is wrong...firstly, we have completed an A-B-C correction from the top 1920 to 1045, which hits a perfect Fib ratio of 50%... from 2015 we have build an enormous 'reversal pattern' (ascending triangle), which has taken Gold from 1045 to 1750, (this is more than just a 'bounce'), a near 78% move ($700 bucks is not a bounce!)..secondly, you also need to measure gold in other currencies which against all major currencies such as 'British Pound, Canadian Dollar, Australia & Euro have surpassed their respective 2011 Highs...thirdly, lets not forget volume which has been significant over the past few years, this is not a sign of distribution but accumulation and fresh buying, ok... I could go on but EWT, most practitioners get it wrong, Robert Prechter (hmmm..still looking for $250), its not going to happen, Gold is not in a bubble, the US dollar is in a bubble, and when this sucker is ripe to roll over, and if you do not have physical when it does, you probably won't be able to get it...
This guy doesn't even know the definitions of INFLATION and DEFLATION, this guy doesn't even consider the technicals of Gold expressed in other major currencies,. this guy is A DANGER to any investor who buys this...
Forget this guy, I think he was just making fun !
Sir according to u when will gold rate come down pls reply in which month till what level
Great interview guys!
In the last 24 months banks and central banks have bought more gold than in the last decade, so they are heading for huge losses in that case then. Somehow I don't think so, and secondly it would make the price of mining gold difficult to mine.
Street price of gold in India is 2100$ /Oz.
2100 rupees or $$
@@SheepDog1974 dollars
@@racingper are those sales from local dealers, or privately negotiated "street" deals?
If dealers are selling at that price, then the expectations are that once the economy reopen the price will surge, or dealers are taking huge premiums
Hmmmm sounds like a good place to sell gold
Most of the jewellery shops and online retailers (that have opened) are selling for 2100$/OZ. Wholesale price for gold is actually about 2000$/Oz in Mumbai today.Just google gold price in Mumbai or check Indian sites like Tanishq or Orra. Even amazon India also selling at above rates.
Please the premium in your country for physical PM's.
New Zealand 40%, 50% extra on physical silver. 1kg silver sold for $1250 and spot on that is $8215.99.
Selling platform was like Ebay, so open market.
RSI is a poor predictor of price movement. Presently a correction could occur but to call out 800 for gold is absurd. He used crude oil price as an example of commodity crashing but gold and oil are not correlated. If treasury rates go negative as he stated that would cause gold to become more valuable.
Harry Dent agrees but unlimited money printing, zero interest rates are good for gold to go alot higher.
His "prediction" was based on Russian model that is outdated. This model was built in the time when money was honest (i.e gold back) and no infinitive QE or zero interest rate or even negative interest rate.
Moreover, the reference for his analysis is paper gold price: that says a lot!!!
His prediction is bases on a lack of knowledge and a lack of experience
I'm currently a gold bull, but one thing I'm confused about is if we are heading into a depression or seriously bad times, wouldn't this have a bearish effect on PM's since people aren't going to have much money to spend?
So how well did ur followers do with such great insights?
If gold goes down people will be reminded of his crazy prediction, if he's wrong.... he was always a gold bull anyway. Genius
yeah, but 800 is pretty low to predict...is he just trying to get some attention?
@@vanessa271 I think yes.
It may go low, but not 800 low. Maybe, $1,400?
@@aharri381 I just see more worries being out of gold than a price dip. I think the mining stocks would get hit if there is a general market collapse, but even they should bounce back quick. But that's just me.
@@b.gumpshrimp107 Yes, there would be a sell-off of all equities in a market downturn, even bitcoin. Gold should recover then go parabolic. The question is, should FOMO influence our thinking? Logic says the market will slide but we are experiencing unprecedented Q.E which is helping to artificially prop up the markets. How long will this last? Something tells me they will try to sustain the market through the election. I don't believe it is sustainable.
I don't have his experience but I disagree with his statement for gold to go down to 800s. Cost of production is above 1000. Also, if investors sell gold it means they are going some where else! What could it be if all is crashing including US$.
maybe cash.
SPOT and the ability to get the physical at that price is two different things lol
Henrik your prediction WAS correct but already happened in March. We saw precious metals bottom out, so did bitcoin and the dollar strengthened. We are experiencing a reflation in financial assets due to Fed QE4 and treasury checks and free loans.
Mamamia this is the opposite of what i'm thinking
The financial system is rigged and set against every logics ,so when things are clear to go one way, the machinary of the fiatmaffia will turn it the other way . Gold is kept under control with future contract manipulation by the banksters and probably the central banks too,without this manipulation gold would be much higher than it is now.
When the big crash in stocks comes ,the banks and funds liquidate as much as possible for cash ,that's why the usd goes up in that environment and gold tends to plunge,it happened in the 2008 crisis and it happened recently in march ,stocks dropped +30% and gold dropped several hundreds of $,only because the FED came with the promise to throw $2200 billion against it ,things reversed ,but for how long?
When eventually the big crash comes we will whitness the same trajectory and indeed against every logic gold will plunge again , maybe to $800 which is not shure but even if it drops to only $1000 the logic of this phenomenom remains the same:massive unlogical interactions untill the whole joke implodes society and bring it to war.
The logic it there in his position and I’d agree that gold will sell off, because of a need for cash. But if you already have gold, instead of selling now and buying back at, say $800, stay the course - hold the gold you have and just buy more if it does bottom at less than $1000. The reason is, that once it bottoms and starts the turn to the upside, it will be impossible to get back in. The demand will be so great, that those that sell at $1700 hoping to get in at $800 will be shut out. The insiders will get in and you will lose our. Stay in gold as long as you don’t have a cash call that forces you to sell. That’s what I think.
Physical is INSURANCE! Trading profits are made on mining stocks. WHY WOULD YOU TRADE YOUR GOLD FOR FIAT? FIAT IS WHAT WE ARE AVOIDING!.
I think there will be a pull back also in PM. We should be hoping he’s right so we can stack more at a cheaper price.
Very possible just like in 2008, the only problem is you may not be able to buy the physical at that point and even difficult to get now, better just to be in it to win it. Unless you like paper gold!
Jim rogers was saying a few years ago that he was waiting for $800 gold and then he would load up the truck. Heard others talk about $800 gold over the past year even as it was on the rise. I have heard some talk of $5 Silver and Henrik was showing $7-8 Silver. Just yesterday I heard target of $1800 on Bitcoin which agrees with Henrik also. They may all turn out to be correct
Couple months ago, Henrik was offering in his twitter feed to add people to his WhatsApp, where he would list his favorite Miners, for the very "reasonable" price of $1000 USD
Henrik, I see things playing out exactly as you described. To tell the truth I'm more than a little relieved to hear that someone else has reached the same conclusion. I've sold all my gold mining stocks and Grayscale bitcoin. Cash is king during a financial crisis. I'll be following you.
"Silver usually leads gold...." Uh, no...I stopped listening when I heard that.
Please tell me what the production cost of an oz of gold
It varies, there's plenty of gold still stuck in the ground because is not economically feasible to mine. For sure as the price goes up so does supply and while oil prices are low now that situation could completely reverse in a year's time making mining more expensive. Also to consider that most mining companies all in sustaining costs are somewhat distorted, because they've also got to continue to grow, or they die. So while a company may pull gold out today close to 800 U.S $ There's little reason to believe that cost is sustainable going forward as costs increase due to inflation as well as easier to get to ore bodies are depleted.
The past ten years companies have been processing thier high grades ore already. With reduced energy costs as presently enjoying a reduction in operating and processing costs. The big boy add to thier reserves by buying tier two or JV partnerships where the junior can find new reserve's cheaper than the big boys... so its consolidation time. You may ramp up production but you just dont find and produce gold I could take a decade
Worst case sell off is with gold dropping to $1550 or $1575 in my opinion, if the world equity markets liquidate again
Great interview ... he sorta echoes Jim Rogers perspective on $900 Gold ... but with more technical information support that view ... 👍
Ken Semotiuk haha what ? I knew they were “partners” in the Quantum Fund ... didn’t know their partnership went any deeper haha
few things don't seem to line up clearly in his arguments. Although, one thing I can say is that I don't know or see many that are bearish on gold or precious metals or even bitcoin right now and the biggest argument is the money printing which yes means something but I don't think it's to a level that would warrant exponential price appreciation for precious metals right now and imminent inflation. Positioning seems really one sided and feels like there is a lot of FOMO in the precious bid, I would be cautious. Obviously, if we run into depression and deflation likely precious metals will be impacted and they could be in orders of magnitude to what Henrik mentions. The likely hood of getting a global depression are far from 0 and whether stocks and or precious metals make a new high before it happens, it doesn't alter the fact that they could see sudden price drops in such a scenario.
I sure hope he's right about this liquidity, solvency, deflation event. Some asset wealth NEEDS to change hands in this world from Boomers to Millennials at some point.
Interesting view. Second time I listened to this video. Like in March the fall and rise will be like a rubber ball bouncing off the pavement. What a buying opportunity if your in cash. Im feeling this guy.
Basically his Interpretation can be summarized as a liquidity squeeze (hunting for cash) plus Elliott waves which Points to his conclusion of $800 on gold. Fundamentally it’s a very possible scenario but I wouldn’t bet too much on it, like what Ray Dalio said, we are in the beginning of a paradigm shift. But then again, if we see $800 gold or even $1000 in the paper market, what will the bullions really be? 200-500 spread? And also the worlds #1 reserve currency have lost over 96% its value, so we really want to bet on 800-1000 gold?
I must admit, I did not watch this video because I didnt want his comments interfering with my own rationale and thought processes. I however read some comments to get a gist of what he was saying. I have seen charts which show gold is both great in an inflationary environment and a deflationary environment. In a deflationary environment, it doesn't fall as much as everything else. So if we hypothetically assume that 800$ gold is possible, i'm sure gold wont be moving suddenly by itself, where the hell are stocks/real estate/etc going to be? What matters more in my eyes is where gold is relative to stocks and relative to real estate. If gold is at 800$, but the gold to S&P ratio is 0.25ish (i.e. it only takes 0.25ounces of gold to buy 1 unit of the S&P), then so be it. I cannot see a scenario where gold just suddenly falls to 800$ and any analysis should elaborate on where other asset classes will be priced. I can definitely see a scenario where the USD will strengthen, this is already happening in many EM (developing) countries around the world but I see most currencies weakening against the USD but the USD weakening against GOLD.
The guy made a huge blunder saying that silver leads gold..Silver moves later than gold and peaks earlier...
I agree.
How is it possible with trillions money printing gold goes to $800?
Impossible
Ask Zeeberg...he seems to know!
Exactly impossible
Very much possible because the markets are rigged against everthing that has tangible value,how do you think this financial mess can continue ? I f gold was totally free of manipulation with future contract manipuation it would already be a multiple of the current price. Dont forget that when the big financial crash comes they liquidate allmost everything for cash the $ goes up and gold tanks ,so $800 is possible
@@patpatat5871 Totally IMPOSSIBLE as far as physical gold is concerned! Physical gold is already selling at a premium over paper gold (as much as up to $300 per oz). Only PAPER gold can be manipulated!!!
What happens when Saudi and Russia need to raise money for their economy because the oil price is so low and they start dumping gold on the market. There are a lot of weak hands out there combined with margin calls in futures markets etc. It could take a big hit. I don’t expect 800 but it could get seriously knocked
To paraphrase:
“I’m bullish gold. In the meantime GIVE ME ATTENTION!!”
You guys should know that during 2008. All the chart folks bet that gold will not go pass $1000. It did it with one go. No hesitation. After that the chart guys again say it will pull back to $900. It never did. Looking back, these jokers missed the gold trade of the century. Going from $800 to $1800 in 18 mth without much pull back.
The oracle of Copenhagen has spoken. I don't remember where, but I heard recently 'Elliot wavers are always wrong'..
hahaha...SHIT HAPPENS IF YOU COUNT AND RECOUNT
This guys insane, listen to him at your peril
EXACTLY...and he doesn't even know the definition of INFLATION.
What kind of moron could say that gold will fall as the Fed says they will print to infinity? Couple this with an economic depression and the actual reality is stagflation where growth declines as prices rise. It’s also nonsensical to claim massive debt and money printing will give the US dollar more value and demand. China and Russia are already trying to abandon the dollar - wake up Henrik!
listen to you at your peril. hehe
He forgets how inflation is tied to money velocity
Money increases in value during deflation - gold is more money than a commodity lately, or that will be the answer to if this is correct - but there is too much going for many to consider gold money, so physical is not going that low or lower ever.
Brilliant! thank you Henrik! I just liquidated my physical gold and stocks.
Oh dear. Did you really do that?
This outlook is not unlike David Hunter's talk (1 week ago) and consistent with Brent Johnson's dollar milkshake theory. All agree that Gold and silver will go through the roof .....in the short term Gold is up ....then crash and then go to the moon. For me it is about timeline....
The thing is that Henrik is a fool and Brent is under-performing the market. Only Hunter actually understands what's going on. Henrik claims to have been shorting gold since $1200. I'd love to see his returns over the past year.
I don't know, maybe they don't have stop-losses in Denmark?
I'd agree Hunter called it months ago with a S & P going toward 4000 when everybody was still waiting for the second crash
Keep stacking physical, paper contracts could crash but physical price isn’t going anywhere. The question is whether or not to exit gold stock positions in advance of liquidity crunch round 2
*anywhere but up
Gold performs in deflation as well as inflation.
I think it actually performs better during deflationary episodes
Question if it ever hit $10000 who's going to buy your gold? Dealers will have hard time keeping that much cash and it will only be ones with a lot of cash to be able to purchase it. You may have to just exchange the gold for whatever asset, land, you want to buy. That's why junk silver will be very useful and there too who's going to take that?
Isn't the gold market being suppressed by the ETFs? And when they start to sell those off wouldn't that drive up the prices even if the foreign countries are selling theirs for dollars? Right now COVID has shut down or slowed the production at the US Mint and when it comes online again the pent up demand will then be supplied and we'll see if people are still buying in large quantities. Demand may outstrip the supply and that will drive up prices.
I'm keeping an open mind on this. He appears to have similar views to Martin Armstrong.
Let me know when its 800, i go to the supermarket with only my hawai shirt on
With trillions of usd being printed and people wanting to move into safer assets, I can’t see how this will happen. Sure, we may get deflation for a period but not to the point of gold selling off over 50%.
wow , I think Harry Dent has a new friend , if not he should be , his gold predictions almost match
Hm. I think it'll consolidate, but I don't think it'll drop that low. Probly around 14-1500
I had a great respect for Palisade Radio , before this interview. Now i think i will leave them forever.
Henrik- I agree with everything
BUT: you say the Fed has no more ammunition left?
...have you fully taken into account that there is a new monetary policy “tool” in town? - it’s called lockdown (hard/soft, govt/voluntary). I think this will ebb and flow for months possibly years - might it somehow result in a slow demolition, which ultimately avoids much inflation??
This man is a genius.
Won’t get out of gold until the Fed Reserve stops QE... and after Congress stops creating spending bills.
Probably correct in theory but IMHO there's very little chance of it in practice. There's way too much individual and systemic risk out there.
Illiquid period? Omg, is this guy serious? The only sure thing is that the central banks will make sure that there are no major liquidity issues. There will be plenty of liquidity pushed out to the market whenever there are issues.
The huge artificial liquidity never goes main street,it's used to shore up the zombie economy full of unmanageble full of debt companies that should better go belly up. The big danger is that eventually fiat becomes worthless and everybody gets victimized.
@@patpatat5871 Main street doesn't care about liquidity or even know what it means. The whole point is central banks will provide as much liquidity as needed so hedge funds won't have to liquidate treasuries or gold at a loss during a selloff.
Your understanding of the K model is flawed. At the worst gold will drop to $1300.
But it probably won’t drop that low. Ppl will be backing up the trucks at $1400.
@@alangrob I doubt it will go that low, too, but $1300 or $.1400 that is low enough that I would be buying.
There are too many gold ads on youtube, everybody is bullish. Time to be contrarian soon, he could be right🤔
yes. he was right. Gold continues to drop despite money printing.
His thesis seems to be built on a chain of events playing out: Oil crashes again; some oil producing nations have a dollar shortage; they have to sell gold to buy the dollars they need; this drives gold into a massive decline . The figure of $890 is based on some chartist analysis - the Elliot wave. This may be useful for short term trading but I wouldn't rely on it for predicting moves that are based on fundamentals. It may well be that gold needs to be sold, including by stock market longs who get whipsawed out of their trades and need to sell gold to cover margin calls. But as this happens more will be bought by others, putting a floor under the price.
anyone can have different opinions. But he is so off that any elementary student can be better than he is. He is so out of reality.
Yeah, I kinda think this dude musta fallen out of a stupid tree and hit every branch on the way down,geez!
NO WAY!....$800 is below the average cost of production.......
None of you can think of what happens if every average Joe stacker losses their jobs and gets desperate to sell, and all of the ultra rich want liquidity. I don’t know if this guy is right but I certainly see the possibility of a period where prices including gold and silver go through the floor
He lost me at Elliott wave. I'm sure this guy is not a billionaire or even moderately successful.
Very good point.
I have a personal rule to only take financial advice from wealthy individuals.
Preferably billionaires.
I don't think any Elliot wave technicians are.
FX DF lol
Didn’t Elliott himself die penniless? I actually agree with this guy that gold will fall in the next year (to 1300-1400, not 800), but I disregard Elliott Wave theorists immediately. They’re pretty much always wrong.
@@elvispresley6133 he used a flawed EW chart counts and claimed gold is going to go down based on that. and when gold started to go up last year at 1380 breaking out further he asked many to short gold. how good can he be? and gold is 1700~ today. what does a "macro" guy know about this?
Look at gold from 2000 onward. Went from 300 to 1900 and retraced 50%. Nothing goes to the moon without a 50% re tracement - Jim Rogers
Inflastion cannot pick up with a closed economy. What are you smoking? I live in South Africa and you cannot buy gold, except for a few coins here and there. Zero silver. So if there is zero trade, how on earth can the price rise?
Do you even know the whole world is in lock down?
This guy’s name in Germany is stiffen Booben
So now ...July 2020...
$1800 gold.
Sounds like he missed the low and he is trying to make the market go lower so he can buy. I think he is wrong. It's going higher.
Maybe, but if there is a retest of the low it is likely people will sell gold off to cover margin calls, similar to march lows, then a sharp incline.
AJ Prasad
That margin call event happened already and to count on it to repeat is unconvincing. Eventually gold will prove to be the safe haven it is and will move in the opposite direction of the stock market as it should.
As the economy opens back up, deflationary pressure will ease, therefore I doubt gold drops too $800..
You don't know the correct definition of inflation!!!!
Economy "opens back up" is a dream ... keep dreaming.
It does not matter the spot price any longer. The real price on the market is DECOUPLED FOR GOOD.
Even in the very unlikely situation that the SP goes down to this ridiculous price, no seller will sell it at that price. Wake up.
Jeez. This didn't age well -) Gold down, and predicting 1700$ btc when it was at the doorstep of an absolute ripping bull here in June '21. Elliot waves are lagging patterns, and ever changing on a macro level. Bad business model bro.
Remember folks, no matter how cheap oil got even in the negitive, gas and oil products NEVER dropped that dramatically. When it was negitive we still paid above $2 a gal. Real gold wont be able to be bought at all for whatever price it drops to. When it dropped from the stock market dropping you still could NOT buy 1 oz of gold for less than $1800. There is always a delay for uptrends from a economic crash. Just wait. His question to why hasn't it gone up while money printing is going on? Delay. From here on out you can not trust any official mark of price. Price value is held down artificially for a reason.
Why isn't he short the miners if he's so sure they're going down?
Gold is climbing slowly. That’s how a bull market works. When it goes parabolic as everyone piles in , that’s your sign it’s reaching exhaustion.
If gold gets to $800 we will be clubbing each other with rocks and making offerings of canned food to idols...
The Fed losing control of the markets and interest rates spiking could knock the wind out of gold. With more and more people out of work and less products being purchased , makes a case for disinflation and lower prices. But while this is going on is not the diiution of the currency still not going on? There is fundamentals but there is also sentiment that moves the markets. I would think that one should probably not bet the farm but always keep a bit of fiat on the side to pick up some physical volume if this fellows predictions come to bare fruit. You would not want to miss the bus.
And when gold goes shooting up you wont be able to get it at all at those prices either. Its common sense when its rising fast there is a much higher percent of price projections. Price is always higher for physical gold when it moves fast up or down.
It will never ever fall below 1350 ever again
Get ready if gold drops that low I will be buying your gold teeth if you have them Henrik!!!! I'm all in on gold bring it on.
1. We already HAVE seen inflation pick up. Look at stock price to earnings ratios, totally warped! + food, energy, REAL ESTATE!
2. How can he expect metals & miners price to reflect inflation while banks are selling cheap, fraudulent, unbacked GLD & SLV contracts? Deliberate price manipulation that even a layman like me can understand.
3. Why would warran buffet invest ½Billion into gold stock if he could purchase the same holding for less than ¼B in the near term?
4. Maybe Henrik & Harry are smarter than warren buffet & the rest of us but, IMO these guys just don't like the idea of paying $2000 when gold was only $250 not so long ago. I can understand that. Nevertheless their models are not based in current reality. IMO
Good luck with your predictions Henrik ! If you are right you are a genius, but honestly I wouldn't put a penny on Gold returning to USD 890.
I think his prediction is definitely a possibility if there's another liquidity crunch but then again look at the Fed providing unlimited liquidity. There's a lot of value in this perspective but I think I'll be in the precious metals market with a good chunk of cash as an insurance policy to buy if this scenario plays out