JAN 26, 2018
Jeb Handwerger, the publisher of the Gold Stock Trades newsletter, sees some serious near-term upside for gold.
It could see a doubling in the price from $1,400 to $2,800 in 2018, especially as the Chinese have been rumored to be dumping U.S. bonds and dollars as the greenback hits new three-year lows.
As important as gold’s breakout will be its ability to hold onto those gains. Handwerger suggests gold’s move is much more likely to have staying power than that of bitcoin:
The difference between moves in bitcoin and gold is that the gold move will be sustainable, as it is driven by supply and demand, whereas bitcoin is all speculative.
The gold price has been showing strength in a variety of metrics and in many ways recently; gold futures had a record 11-straight-session gains from late December to early January.
“Gold has been in a stealth bull-market phase for the past few years with little notice from most investors,” says Peter Spina, chief executive of precious-metals information provider GoldSeek.com. “Gold at $2,000 [in 2018] is a long shot, but not an improbable target by any means.”