"It's been a fairly quick move over a shortspace of time"
Tom Fitzpatrick has long argued that gold prices could surge. Indeed, he sees prices rallying to $2,500 within the next few months.
However, he cautions that prices are unlikely to see a straight line up, especially considering how quickly prices have surged lately.
"It's been a fairly quick move over a short space of time," Fitzpatrick says. "We also get a bit of a push on the backs of the announcements of additional QE, but we do look to be losing a little bit of momentum short-term.".
"Given where we've come from, gold has risen from almost the $1,500 level to the $1,800 area, could gold retrace back down to $1,675? It's not at all impossible (see chart below). In the overall scheme of things it would just be a decent backfill."
The Simple Case for Goldby Charles Goyette
Charles case for Gold is this: Unlimited money printing means only one thing: Unlimited gold prices!
As Charles says, just connect the dots:
As the U.S. Fed prints dollars in unlimited amounts, it devalues the dollar.
As the European Central Bank prints unlimited amounts of euros, it devalues the euro.
As the Bank of Japan jumps in to print unlimited quantities of yen, it also devalues the yen.
And as these three major currencies go down, so do virtually all other paper currencies in the world. "There’s only ONE kind of money they cannot devalue: GOLD. As paper currencies fall, gold surges. No two ways about it."