Is the gold market set to make a major comeback this year?
Following an up-and-down year in 2016 which saw the re-emergence of a gold bull market in January and then a slide into the second half of the year, data from gold Exchange Traded Funds indicate that a lot of money is moving back into the space.
2011 was the year gold reached its all-time high against the dollar when it climbed from $1325 at the end of January to over $1900 by early September. And during that year investments in the GLD ETF were also at record highs.
Subsequently traders saw the gold price fall over the course of the next four years, ending its bear market run in January of 2016. But as we enter into a new Presidency in January of 2017, and conditions looking very similar to what occurred last year in the gold markets following the central bank’s first rate hike in over a decade, something else is occurring that is sure to spark a run in the gold price and it is happening once again in the paper gold market.
On January 17, the GLD ETF had risen 13 of the last 15 trading days, creating a scenario for gold not seen since it rose to its all-time high back in 2011.
You can read the full report, with citations and charts at The Daily Economist.
According to well known economist and publisher of the Doom, Gloom and Boom Report Marc Faber, now may be a good time to buy gold because the next 6 months could see global liquidity shift to precious metals.
Delivered by The Daily Sheeple
We encourage you to share and republish our reports, analyses, breaking news and videos (Click for details).
Contributed by The Daily Sheeple of www.TheDailySheeple.com.
This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.TheDailySheeple.com.