Will Gold Shine In 2019?

Several experts, who are not in the gold business, recently suggested gold will be a good investment in 2019.

Zerohedge reports on David Einhorn’s annual letter to Greenlight Capital shareholders with my emphasis:

“Gold – Long – U.S. debt to GDP is over 100%. The…U.S. debt has increased by over $2 trillion…. When the economy eventually slows, the deficit is sure to expand rapidly, possibly catastrophically. The politicians say deficits don’t matter. …. History says otherwise. Gold continues to be a hedge in our portfolio to imprudent global fiscal and monetary policies.”

The Aden Forecast, a highly respected newsletter, tells us:

“GOLD’S TURN TO SHINE – This too will likely continue this year, especially if the U.S. dollar also heads lower. If so, gold will get a double boost and it’ll shine as the world’s safe haven. For a number of reasons, we believe that’s what’s coming up… Already, gold hit a 6½ month high, mostly thanks to its safe-haven status during these volatile times.”

Since the bank bailouts, pundits have predicted rising inflation with gold rising like a shooting star. It has not happened. Kitco reports the gold price on 12/31/2017 was $1,291/oz. It closed in 2018 at $1,279/oz.

Our gold expert is Jeff Clark, a senior precious metals editor at GoldSilver.com.

Jeff wrote a terrific article, “Don’t Worry About the Gold Price – China’s Got Your Back” outlining major differences in how Chinese and Americans view gold.

I’ve asked Jeff to weigh in on his thoughts for the upcoming year.

DENNIS: Jeff, on behalf of our readers thank you for your time. In your article, you presented a great analysis on how the Chinese look at gold. Please explain what you mean.

JEFF: China has a very different culture than the West. And that includes how both the government and its citizens think about gold. They see it very differently than Westerners (US, Canada, Western Europe):

  The West China
Basic View An investment Money, a store of value
Buying and Selling Trading for profit Preparing for crisis
Current Weak Price Gold is dead! Opportunity to build larger position
The Future of Gold “You mean beyond 3 months?” A financial backstop; protection against the inevitable shift away from the US Dollar
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