The Gold Price, Charts, Data and Ratio’s
The Gold Price, Charts, Data and Ratio’s
With QE3 underway and QE4 a possibility, we estimate that the long-term price of Gold should be US$1,976/ounce, with the potential to reach US$2,500/oz in the short term.
If America were forced to back just the current monetary base Gold would trade over US$10,500/oz the USA did this in 1980.
To cover the total US external debt (excluding gold) of US4.4trn, the price would have to be US$18,500/oz with the change of leadership in China this month, many have spoken of a Gold backed RMB, even a shift in China’s foreign reserve policy in favor of Gold could spark a rally to US$3000/oz.
Last week, Gold rose $23.45 to $1,752.50 an ounce, punching above the 50-day moving average that had capped the market for the past month, though it was outperformed by Silver at US$33.7 and Platinum remained flat at about US$1,575.
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The move represented a technical breakout above the 50-day moving average for the short term, Gold can break above $1,800, the next real significant resistance will be the prior all-time high near $1,900 .
The Demand for Gold Remains Strong
Paulson & Co. has a $3.66 billion bet through the SPDR Gold Trust, Soros Fund Management LLC increased its holdings by 49 percent in the third quarter; Investors have bought 247.5 metric tons through ETPs this year.
Below are a series of Charts to help you determining your Gold position for the week ahead.
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Heffernan Capital Management
Linda Johnson,
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Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
Member
Chinese Society of Economists
American Economic Society
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