How High Can Gold Go? This One Number is the End All, Be All...
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Gold continues to rocket to all-time highs, but there is one number that could put an end to all the fun and it should be closely watched by all market participants.
That number is gold's inflation-adjusted high.
The 1980 parabolic high for gold was $873 per ounce. Adjusted for inflation, the 1980 high would be $2,393.57 in today's dollars (using CPI data).
Heading into the afternoon session Monday, gold is up $35 to $1,885 per ounce. This suggests there is another approximate $509 in upside, or 27%, to the inflation-adjusted high.
The inflation-adjusted price of gold is nothing to worry about now, but it should be in the back of your mind if you are long gold or the gold ETF (NYSE: GLD).
That number is gold's inflation-adjusted high.
The 1980 parabolic high for gold was $873 per ounce. Adjusted for inflation, the 1980 high would be $2,393.57 in today's dollars (using CPI data).
Heading into the afternoon session Monday, gold is up $35 to $1,885 per ounce. This suggests there is another approximate $509 in upside, or 27%, to the inflation-adjusted high.
The inflation-adjusted price of gold is nothing to worry about now, but it should be in the back of your mind if you are long gold or the gold ETF (NYSE: GLD).
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