Will Gold Hit $5,000 Before 2030? Plus Bitcoin Correlation

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The Digital Businesss Channel for Cannabis, Crypto and Technology Stocks.

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.

Gold’s spot price has hit a new record high. $2,059.09 at the time of writing this.

Coronavirus, economic uncertainty, a weakening USD and the multiplication effect of central bank monetary supply all have a hand in boosting the precious metal. So, where else does the price have to go? Other than up, up and away…

The cool thing about the price of gold increasing is the many investing/trading avenues you can go down: There is the commodity itself, futures, junior miners, etf’s, related precious metals (i.e. silver), etc.

If you take the all-time high set back in 2011 and then take the ratio between gold and silver. Silver should be looking at a price target of around $46. Something to keep in mind.

Gold is up more than 30% just this year. So, the question is can it go much higher?

Bank of America Corp (NYSE:BAC) have put a price target of $3,000 per ounce of gold. Goldman Sachs Group Inc (NYSE:GS) think prices could rise as high as $2,300…

Watch the full interview to see whether gold could go a lot higher than what analysts are saying… Plus with bitcoin marching along to USD$12,000, is the cryptocurrency worth another look?

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.