/biz/ - Business & Finance

Or maybe morningstar still thinks that of gold, they just published this today

https://www.morningstar.com/articles/964088/changing-tastes-will-dull-gold-prices

>We expect 2020 gold demand to be 8% higher than it was in 2018, leading to our 2020 price forecast of $1,500 per ounce.
>today's demand is tomorrow's supply
> ETF-held gold has reached record levels equivalent to roughly a year's worth of mine production, and its unwinding would significantly weigh on prices
> However, in more recent years, gold purchases per capita have actually fallen as incomes have continued to rise
> We see both near-term and long-term reasons for the purchase intensity to stagnate. In the near term, government actions in both countries have weighed on gold purchases. In China, Beijing implemented efforts to stem capital outflows, which included tighter restrictions on gold imports. >In India, the government has long sought to minimize gold imports to strengthen the rupee. This included increased taxes to make gold more expensive to purchase.

Holy shit though:
>As such, we expect midcycle gold demand to be 9% lower than our near-term forecast, leading prices to decline to our midcycle forecast of $1,250 per ounce in real terms by 2022

I just don't see that unless rates start rising. Are we really "midcycle"?

I guess it doesn't matter for you since you're trading off of trends/momentum!

>>17053798
cute bimbo, fun show
just binged

>>17053818
V.true, I know, but everyone saying it's bottomed has been btfo time and time again. I hope you're right bud, but I'll wait for the segment before longing. Think a Bernie caucus victory could push oil and natty dramatically? Those far lefties HATE frack attack