It Won’t Be A Parabolic Rise, But $10,000 Gold Is Coming – Rickards1 min read


Jim Rickards talks about the technical indicators behind gold and the likelihood of a North Korean War. After hitting its highest level this year, gold has fallen back on profit taking. The best-selling author cites two factors to drive gold prices: disinflation and a weaker U.S. dollar. We’ve written extensively about the U.S. dollar and its relationship to gold. For the reason that gold is priced in U.S. dollars. Read The One Asset Trump is Crushing to learn more about how the current President is holding down the world’s reserve currency.

Rickards coins some wisdom from Jim Rogers, one of the great commodity traders of all-time,

“Everything retraces 50% before it resumes its  path upwards.”

North Korean War and Gold Technical Talk

 

Rickards explains that,

“The bigger picture, the one I’m looking at, is that gold hit an interim low on Dec 15 and it’s been grinding higher ever since. It’s one of the best-performing assets of 2017.”

 

Rickards does not believe tensions with North Korea will subside anytime soon. Certainly, “People seem to have very short attention spans. I’m just looking down the road, and you can see the war is coming.”

Finally, Jim scoffs at Bitcoin, noting,

“To me it’s a little sandbox, people can play in their Bitcoin sandbox if they want. I don’t really think it has much impact on gold one way or the other. Bitcoin looks like a bubble.”