Via Jason Ruspini.
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Previously: The Interdependence of Prices and Gold –- by Jason Ruspini
I did not give $1500 as a gold target this year! When asked for my gold price prediction, I said, if you look at gold as a % of global fx reserves and investable assets you can justify very high gold price predictions, but I don’t like to model absolute levels, I like to look at marginal, incremental signals. If you put a gun to my head though: $1300-1350 — not “$1300-1500?.
Also edited out was a differentiation of liquidity shock vs. deflation vs. disinflation.
I should add that long-term trend-following is a fine way to trade gold.
These are all my own opinions, not those of Conquest.
I am now a subscriber. I am looking forward to reading his take on the financial crisis.