Gold Price Forecast – Is This the Bottom?
Gold Price & Gold Miner Update – June 18, 2020
The coronavirus has rapidly taken center stage in world affairs over just the last month. With its terrible human casualties comes a nasty financial side effect: deflation.
The US stock market has just witnessed its worst weekly decline (-11%) since the Crash of 2008.
Oil prices fell more in a single day on Monday, March 9 (-33%) than on any other day in the post-Bretton Woods (1971) era.
Meanwhile, gold prices have touched 6-year highs above $1,700 this week.
This is deflation, loud and clear. Deflation can be defined as a period when the prices of goods and services fall; conversely, during deflation, the purchasing power of money rises.
Gold is the world’s oldest store of value – as such, it should rise increase in value during deflation when compared to other assets.
So, is now a good time to buy gold?
With the newsworthy events of the last few weeks including the assassination of Iranian general Soleimani, retaliatory missile attacks against US forces in Iraq, and now the coronavirus, gold has just broken all-time records for volume on the world’s futures exchanges. Clearly, gold is a market which is gaining interest and momentum at this very moment.
Yet what exactly does volume really tell us? Is all-time record high volume a good sign or a bad omen for the future of gold?
Let us examine these questions and more in this gold price update.
Click here to continue reading for FREE on our partner site, Gold Eagle…