“Gold Will Likely Soar To A Record Within Five Years"

GoldCore's picture

"Gold will likely soar to a record within five years as asset bubbles burst in everything from bonds to credit and equities, forcing investors to find a haven", reported Bloomberg last week, quoting Old Mutual Global Investors’ Diego Parrilla.

gold_bull_market

The metal is at the start of a multi-year bull run with a “few thousand dollars of upside” in a world of “monetary policy without limits” where central banks print lots of money and low or negative interest rates prevail, said Parrilla, who joined the firm as managing director of commodities last month. He’s worked at Goldman Sachs Group Inc. and Bank of America Merrill Lynch.

“As some of the excesses in other asset classes get unwound, gold will perform very strongly,” said 43-year-old Parrilla, who has almost 20 years experience in precious-metals markets. The “perfect storm scenario will mean that gold will perform best when other classes are doing worst.”

While gold has climbed 24 percent this year amid low or negative rates, it slumped more than 40 percent from its record in 2011 through the end of last year to what Parrilla called “very oversold, very distressed” levels. With the downside only a few hundred dollars, the risk-to-reward ratio is extremely asymmetric and skewed to the upside, he said in an interview on Sept. 14.

In the first of two monetary-policy announcements on Wednesday, the Bank of Japan shifted the focus of stimulus from expanding the money supply to controlling interest rates, which some economists deemed as further evidence that BOJ policy had reached the limits of its effectiveness. The Federal Reserve is also due to make a policy decision, with traders seeing the probability for an interest-rate hike at only 22 percent.

Gross, Singer
Parrilla joins a slew of investors who are bullish on gold because of low borrowing costs and central-bank bond buying. Billionaire bond-fund manager Bill Gross has said there’s little choice but gold and real estate given current bond yields, while Paul Singer, David Einhorn and Stan Druckenmiller have all expressed reasons this year for owning the metal.

 

Gold and Silver Bullion - News and Commentary

Gold ends lower, but books best weekly gain since July (MarketWatch)

Gold steady as dollar falls vs yen; U.S. politics in focus (Reuters)

Citi Warns Gold May Be Volatile as Bank Boosts Odds of Trump Win to 40% (Bloomberg)

Erdogan sees ‘ulterior motives’ in U.S. case against gold trader (Reuters)

Manufacturing PMI in September slips to three-month lowh (MarketWatch)

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Gold and Silver Gain About 2% and 5% on the Week (Goldseek)

Gold Outperforms With U.S. Rates on Hold (Bloomberg)

Fed seeks sharp limit on Wall Street commodity holdings (Bloomberg)

Monetary metals manipulation lawsuits hanging by a thread (ComexWeHaveProblem)

China's alarming debt pile (MoneyWeek)

Gold Prices (LBMA AM)

26 Sep: USD 1,336.30, GBP 1,033.23 & EUR 1,188.91 per ounce
23 Sep: USD 1,335.90, GBP 1,027.17 & EUR 1,192.16 per ounce
22 Sep: USD 1,332.45, GBP 1,019.59 & EUR 1,186.68 per ounce
21 Sep: USD 1,319.60, GBP 1,015.96 & EUR 1,183.81 per ounce
20 Sep: USD 1,315.40, GBP 1,011.02 & EUR 1,175.84 per ounce
19 Sep: USD 1,315.05, GBP 1,007.99 & EUR 1,177.36 per ounce
16 Sep: USD 1,314.25, GBP 995.68 & EUR 1,170.08 per ounce

Silver Prices (LBMA)

26 Sep: USD 19.44, GBP 15.04 & EUR 17.29 per ounce
23 Sep: USD 19.82, GBP 15.28 & EUR 17.66 per ounce
22 Sep: USD 19.88, GBP 15.22 & EUR 17.69 per ounce
21 Sep: USD 19.43, GBP 14.95 & EUR 17.43 per ounce
20 Sep: USD 19.17, GBP 14.78 & EUR 17.15 per ounce
19 Sep: USD 19.12, GBP 14.65 & EUR 17.13 per ounce
16 Sep: USD 18.91, GBP 14.36 & EUR 16.85 per ounce


Recent Market Updates

- Savings Guarantee? U.N. Warns Next Financial Crisis Imminent
- Gold Up 1.5%, Silver Surges 3% – Yellen Stays Ultra Loose At 0.25%
- Trump and Clinton Are “Positive For Gold” – $1,900/oz by End of Year
- Gold Bugs Rejoice – Central Banks Think You’re On To Something
- ‘Hard’ Brexit Looms For Ireland
- EU Bail In Rules Ignored By Italy – Mother Of All Systemic Threats and World War?
- Buy Gold – Bonds Are ‘Biggest Bubble In World’ – Billionaire Singer Warns
- Silver Bullion Market – “Most Bullish Story Ever Told?”
- “Sorry, You Can’t Have Your Gold Bullion”
- Global Stocks, Bonds Fall Sharply – Gold Consolidates After Two Weeks Of Gains
- Gold, Silver, Blockchain and Fintech – Solutions To Negative Rates, Bail-ins, Cash Confiscations and Cashless Society
- Jan Skoyles Appointed Research Executive At GoldCore
- Silver Bullion Surges 3.5% To Over $20/oz

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undercover brother's picture

Will likely is essentially the same as will likely not.     In other words, you don't have a clue.  

MrBoompi's picture

I'd like to know what reasoning people use to come to the conclusion the manipulation of the gold price will end in 5 years!  Do they know something I don't know?  Are they going to make naked shorting illegal or something?  BTW the price for physical gold will only go up when the masters of the universe own most of it, and there is no indication they are making any moves to do this.  

MrButtoMcFarty's picture

XAG getting monkey hammered.

The Banksters are feeling it today.

Buster Cherry's picture

Been hearing this shit for how many years now?

Its become a bunch of staticy noise.

TheObsoleteMan's picture

If we had free markets, I'd say AG & AU to the moon, but the truth is we don't. The price is set by them {the cabal}, and though while we may see swings and gyrations, you will be much disappointed if you think you are going to hide out or ride out in metals. They will never allow it. I said several years ago when gold was flirting with $2k it was past time to sell. They never let it get any higher, as that was the 1980 high {I'm old enough to remember that one too}. Where have I seen this before I asked. Here is something to consider. Back in 1980, there was only one billionaire in the whole world. Getty, Hughes and H.L. Hunt had all died a couple of years earlier, and their billions were spread out among heirs. That left only King Khalid of Saudi Arabia. Today there are over 1800 billionaires world wide. Imagine if just a fraction of them decided they wanted to park a portion of their sizable wealth into physical CASH. There would not be enough in circulation, the presses couldn't print enough to keep up with the demand. Forget metals, it will be physical US Dollars that will be hoarded and in demand.

LowerSlowerDelaware_LSD's picture
LowerSlowerDelaware_LSD (not verified) Sep 27, 2016 11:23 AM

"Five years..."

"Likely..."

LOL!!!  Monkey throwing darts at a dart board.

illuminatus's picture

Fiat currencies will lose value against gold when the ptb decide to devalue against gold. Or, which is less likely that enough people finally wake up to the fact that they have been totally screwed by their so called elected officials and banksters. Not likely. What is also very not likely is that all of us pussies who do understand get off our pompous asses and organize enough to actually take on the elite.

We are stuck between ruthless psychopath criminals and fucking idiot morons. Sad indeed.

frogface's picture

They`ll just put a massive tax on it when you need to sell. Here in Britain I have to supply ID before buying or selling any bullion.

LowerSlowerDelaware_LSD's picture
LowerSlowerDelaware_LSD (not verified) frogface Sep 27, 2016 11:22 AM

"They`ll just put a massive tax on it..."

It already exists.  Gold is taxed as a collectible.  I believe 30% tax on any gains.  Even paper (ETF) gold.  Apparently the IRS believes taht people are collecting the data/paper that says that you own gold.

joego1's picture

Trade it to your friends.

Son of Captain Nemo's picture

5 years?????.............

America will probably be gone by that time along with many other countries after Goldman and JP get their just deserves!

actionjacksonbrownie's picture

We've been reading the same prognostications from various sources for the past 5+ years, yet Gold is still over 30% below it's 2012 high. I don't consider equalling a previous high as "soaring", and just getting back to $1900/oz. seems to be a monumental task for the spot Gold price. Barring a Black Swan event, I don't see Gold soaring any time soon, or within 5 years. I do think that perhaps in the next 10 years the price of Gold may get back to $1900, if the Gold market is allowed to even exist in 10 years time. With money printing in vogue, and GAAP out the window, there is simply too much strength in the hands of tptb to control the Gold price. It will take a breakdown in confidence in the entire "money" system before control is lost, and that is assuming cash hasn't been banned and fiat digits rule all commerce and trade. Gold ownership could be criminalized at that point and the Gold "market" largely sidelined or concealed from the view of the masses. I will continue to hold PMs for the duration, but there may come a time when that small act of defiance is jailworthy.

Wow72's picture

"small act of defiance is jailworthy"

You mean obtaining REAL CASH would be jail-worthy in Oz? Justice? Balanced JUSTICE?  JUST? The jail-worthy part is unlimited FIAT? Totally against the constitution?  Civil War on the way!!!   SHIT THINGS ARE BACKWARDS?

FIAT GIVES CERTAIN PEOPLE WHO PRINT IT UNLIMITED POWER....

Dwain Dibley's picture

Geez, you really should learn what the words mean before you use them.

Fiat Money: inconvertible paper money made legal tender by a government decree.

The only ones who benefit from the conflation of money and credit are the issuers of credit with no money.

Neither the Fed or the banks possess the legal authority to create the nation's legal tender money, and they don't. What they do create is asset backed, debt based private credit, denominated in dollars, and it's not 'our money', it's an obligation to pay in the nation's public money (legal tender).  And, it is not part of the actual money supply. The U.S.G. has absolutely no legal obligation to make good on any of the Fed and bankster's promises to pay. They proved that point in the 1930's and again in 2008.

You see, ours is a Legal Tender Monetary System. This means that our money is not defined by Ludwig von Mises, John Maynard Keynes, Murray Rothbard, Milton Friedman, Joseph Salerno, G. Edward Griffin, Paul Krugman, Mike Maloney, Peter Schiff, Ron Paul or any other economist or talking head. Nor is it defined by Austrian Economics, Keynesian Economics, Monetarist Economics, Capitalist Economics, Socialist Economics, Modern Monetary Theory, the Federal Reserve, the U.S. Banking system, conventional wisdoms, esoteric blather or what people may use. It means our money is defined by law. And nowhere in law does it designate or even acknowledge Fed and bank generated asset backed, debt based credit as being a legal tender, or money, or currency, or a medium of exchange, it is 100% private issue, Bank Debt, even when it is generated by the Fed.

Currently, there is only $1.46-Trillion in U.S. legal tender money in circulation around the globe with about $280-Billion of that either in circulation or held in bank vaults as reserves within the U.S.. Of the $3.94-Trillion in reserves held by the Fed, only $1.78-Billion is in cash. The reserves held can be used as collateral to get more legal tender from the Treasury, if demand rises for the actual monetary medium, and that's the only way the Fed can get the monetary notes from the Treasury, by posting collateral of equal value to the notes received.

https://www.federalreserve.gov/releases/h41/current/

https://www.treasury.gov/resource-center/faqs/currency/pages/legal-tende...

There is no money in any deposit account of any type anywhere in all of westernized banking. They are all credited accounts, bookkeeping entries denoting the amounts of actual legal tender money owed to account holders, they are all bank debt. Whatever cash a bank has in its vault, is all the money it has (been that way for well over 600 years of banking and it hasn't changed). A bank's debt to you, is not your money.

This will not end in hyperinflation, it will end in hyper-deflation, when all that private debt based credit generated by the Fed, banksters and Wall Street !POOF!s out of existence leaving nothing behind but debt.

See 2008 Credit Collapse for real world examples.

http://carl-random-thoughts.blogspot.com/

the Frog

Wow72's picture

"inconvertible paper money made legal tender by a government decree."

You said everything?  "inconvertible" to real money?  You PROVED MY POINT?  We earned the peoples of the world confidence with "Convertible" money?  Meaning the paper converts to something worth FUCKING VALUE DUH?  FIAT is INCONVERTIBLE TO SOMETHING OF VALUE?  Which is moar valuable Einstein?

Fiat does not convert to REAL MONEY? IMAGINE IT? Thank YOU!

 

A government decree lasts only as long as there is confidence in the government, you cant assume confidence EVER.  A fool would assume confidence in OUR GOVERNMENT.

Dwain Dibley's picture

And ZOOM, right over your head.

No, I didn't "prove your point" as your point was in error, as my post and point illustrated, which you failed to grasp.

Fiat is real money that does not convert to gold or silver, but you can buy all the gold and silver you can afford with fiat money.

Besides, why should you care, you probably do all your shopping using a debit card, the private credit of the banksters.

Wow72's picture

"Fiat is real money"  Our constitution does not allow FIAT? or UNBACKED Worthless PAPER?

You are LOST.  Only because a government "Says" it is....... not because it is.  Gold = Work = Money.   Fiat NOT = work NOT= Money   YOUR LOST.....  Like every other fucking idiot.

The ones who dont understand this SIMPLE concept are fucking CLUELESS.   Dont worry....You'll See

Fiat money Historically is a DISASTER.... Over and Over in history.....Because its not really MONEY.......JUST WAIT.  

We have a FUCKING CLUELESS POPULATION.... Fiat has been tried over a 1000 times historically and your one of the idiots that doesnt understand, it does not work HISTORICALLY. 

They may control us into deflationary spiral, it still doesnt make FIAT REAL?  People are fucking RETARDED.....

Money "Creation" is our MAJOR PROBLEM.  Tell JOHN EXTER ex-FED memeber gold is not money, he says it forms the base of money? https://en.wikipedia.org/wiki/John_Exter

Dwain Dibley's picture

Geez, you truly are functionally incognizant.

98% of all globalized commerce is conducted in bank generated debt based PRIVATE CREDIT, not fiat, you slow witted fool.

The actual legal tender fiat comprises less than 4% of what dumbasses, such as yourself, call the "money supply".

Gold comprises 0% of what dumbasses, such as yourself, call the "money supply".

But keep worshiping and collecting your gold fool, so you'll have something pretty and shiny to look at while you starve to death.

JailBanksters's picture

As long as Central Banks are printing their own money to go shopping, it ain't going anywhere.

And I think it all hinges around the Doosh Bank, once that goes to hell it won't take long.

 

Stu Elsample's picture

in 5 years, ammo will be far more valuable than gold

northern vigor's picture

Diversity is your friend...buy both

Fisherman Blue's picture

Ammo has a self life gold has a 10k year history. I will buy all your remaining ammo with 1 oz of gold and your house and you will sell it to me with a kiss on my ass for good measure.

Stu Elsample's picture

some people may try to use their ammo to take your gold, but if you throw that one ounce coin hard enough it might knock 'em out

roxyNL's picture

The only way to push gold higher is if everyone of us was educating his family, firends, colleagues about the fiat money scam and encouraging them to buy physical gold and hoard cash.

that would put the cartel in very bad shape !

in fact if everyone was convincing just 3 persons (all over the world) to buy 1 ounce of gold that would be enough to buy the worldwide production of one year in just 4 months

 

4 montsh = 17 weeks

3^17 = about 130 millions persons

130MM * 31g = 4000 tons (annual gold production)

Seasmoke's picture

I tried that 2-3 years ago. Don't think a one even gave it another thought since then. It was a useless endeavor and waste of breath. I stopped trying. I may actually even sell my Gold. It's a waste of time. Talk to me in 5 years. I wonder what you were saying in 2011 only 5 short years ago.