Author Topic: Gold rising to $4,000 an ounce ‘would not be an unreasonable move,’ fund manager says  (Read 176 times)

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Offline libertybele

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I think it all depends on who wins the WH in November.

Gold rising to $4,000 an ounce ‘would not be an unreasonable move,’ fund manager says

Stocks and bonds may be in an asset bubble, as record-low interest rates and a tremendous increase in the money supply have sent prices soaring this year.

Add gold, which has risen 35% to $2,049 an ounce Aug. 5, to the list.

But Michael Cuggino, CEO of the Permanent Portfolio Family of Funds, says gold can move a lot higher. It would “not be an unreasonable move” for gold to breach $4,000, he said in an interview.

Cuggino manages the Permanent Portfolio PRPFX, +1.13%, a $1.9 billion mutual fund that is conservatively run and rated four stars by Morningstar in the fund-research firm’s “U.S. Fund Allocation — 30% to 50% Equity” category.

https://www.marketwatch.com/story/gold-rising-to-4000-an-ounce-would-not-be-an-unreasonable-move-fund-manager-says-2020-08-06?mod=bnbh_mwarticle
GOD Bless America, have mercy upon this country and stop the evil that has a stranglehold on our Republic from prevailing.

Offline catfish1957

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Hate to sound like a broken record, but Gold at $4000/oz, will be more a function of USD inflationary pressures than real value.  Countries with sounder fiscal policy will be the big winners in the next 10 years. 

At $2100/oz., right now I am out of market of adding position there or in Silver.   I still think it is possible for some dips, but like you said....   A Biden, dim senate, and house sweep in November will create the perfect storm financially.  Right now, I am not comfortable in investing in anything new or addtional. 
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline libertybele

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Hate to sound like a broken record, but Gold at $4000/oz, will be more a function of USD inflationary pressures than real value.  Countries with sounder fiscal policy will be the big winners in the next 10 years. 

At $2100/oz., right now I am out of market of adding position there or in Silver.   I still think it is possible for some dips, but like you said....   A Biden, dim senate, and house sweep in November will create the perfect storm financially.  Right now, I am not comfortable in investing in anything new or addtional.

Right along with you on this one. Holding what precious metals we have and for the most part out of the stock market. Too much uncertainty and the door is wide open for a financial perfect storm in November.  Businesses continue to shutter and major retailers are closing their doors.  Not exactly a good sign.  Meanwhile there is a push to put us in at least another trillion into debt within the next month.

Unemployment is starting to drop which is a good sign but we could see unemployment rise again in the near future.
GOD Bless America, have mercy upon this country and stop the evil that has a stranglehold on our Republic from prevailing.

Offline catfish1957

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Right along with you on this one. Holding what precious metals we have and for the most part out of the stock market. Too much uncertainty and the door is wide open for a financial perfect storm in November.  Businesses continue to shutter and major retailers are closing their doors.  Not exactly a good sign.  Meanwhile there is a push to put us in at least another trillion into debt within the next month.

Unemployment is starting to drop which is a good sign but we could see unemployment rise again in the near future.

Exactly.  I posted the debt clock right here yesterday, and I noticed the Debt/GDP ratio has shot up to 136.5%. I have read all kind of well known econ brainiacs who have said that 125%- 150% tipping point would have disasterous triggering mechanism toward a meltdown.  Pretty much a scenario, where payment to debt obligations destroys our ability to operate the country.  Seems everyone is oblivous to this, and sticking their heads like an ostrich in the sand. 

Adding additional $Trillions?  Just a few of us realize this will not end well. 
« Last Edit: August 06, 2020, 01:09:14 PM by catfish1957 »
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.


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