It appears to be an almost perfect environment for the gold price. US government bond yields move from one low to the next. The stock markets are currently a slide and cryptocurrencies have not outstripped the gold price as a safe haven. Gold shines in this environment. Last asset standing – so to speak. Some, like Jeffrey Gundlach, see the gold price “almost certain” on the way to a new all-time high. And THE SHAREHOLDER agrees here. Gold is back on the uptrend – but not only since the oil price crash and not just since the standard shares reset. The tide-turn for gold had already started at the end of 2015. The gold price has already reached a new all-time high in most currencies. In US dollars, this should only be a matter of time.
But, and this is a small, short-term warning: There currently seems to be too much euphoria about gold. The stock markets are ready for a rebound. Technical indicators show the most oversold situation since the financial crisis. A rebound – even if only temporary – should in the short term ensure that money from the safe haven of gold is converted into shares. But all of this should only be a small glitch that should be seen as an opportunity to buy. Gold is back – and gold is on the way to a new high. It should only be a matter of time before it happens.