I've been a fan of George Gammon for a few years now because he's pretty switched on and he is really good at breaking down complicated topics to make them accessible and easy to understand. He's also good for a laugh and is an entertaining presenter so I thought his analysis this week on the recent Gold Rally was worth shouting out. He talks about a lot of the factors that historically influence the Gold price in this video. Check out the 18 minute presentation HERE
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I'll try not to put a spoiler out on his conclusion and while I think he is right I personally am of the view that it's a combination of factors that are forming a kind of Perfect Storm for Gold right now. I've written about the 3 Traditional Gold Price Drivers before and I think that ALL 3 of them are currently in play. We have had Inflation as high as its been in decades, Geopolitical Risk is as high as its been since the end of the Cold War and Commodity Demand is picking up too.
It took me a while to find that post which I wrote back in December 2017 and it was a bit of trip down memory lane to dig it up. I wrote it well over 6 years ago and I was calling the bottom of the Gold price. Look how far it's come since then. I was also effectively calling the top in Bitcoin at the time when the price would not recover to that level for another 3 years. If you can't be bothered to click on the link I'll repost the image below.
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That's the beauty of an immutable blockchain. All my old ramblings are there enduring the test of time and I can't go back and change them even if I wanted to. I stand by my record.