When is the gold price going back up.
What the hell, the world economy is crashing and gold is so low. I thought people would be buying gold like mad.
OK, so there is that gold-oil correlation going on, I really forgot about that. But still, gold, everyone meant to be buying gold. What the hell.
Gold going back up? It has a decade bull run and still hasn't properly corrected. It's going down senpai. Wayyyy down.
Speaking of the gold-oil correlation - it's historically been around 15-1. With oil at $30 bucks that puts gold at $450/oz. This is only temporary since the crude price collapse has been so major.
That paired with the knowledge that in a crashing economy, deflation comes first. I'm a gold bug myself but buying into gold right now is one of the dumbest things you could do with your money.
It's because of the money supply and multiplier. They are both shrinking.
>China's financial market colllapsing
>Oil cheaper, not because of demand decreases, but because every supplier is going full bore with production
>Over-inflated US stock market correcting itself, no signs of it in the real US economy
"OH SHIT! WE'RE ALL DOOMED! THE WORLD ECONOMY IS FALLING IN THE SHITTER!"
Good to see you're still unharmed from that acorn falling on your head, chicken little.
>no signs of it in the real US economy
Chart tweeted by Goldman Sachs