Gold is now in its 9th year of a bull market...but is "only" up 367% since 2001.
The gold rally of the 70s—during those crazy days of rising interest rates—accounted for a total jump of 2,328%. So, at least from an historical perspective, and in a day of anticipated rising interest rates, gold and gold coins would still seem to have a long, long way to go.
And that's not accounting for gold's continuing reaction to today's "deteriorating economic conditions."
Consider what investment newsletter writer Richard Russell has to say.Russell has been around the investment newsletter block for quite some time now (I used to read him in the early 80s) and is one of most venerated and accurate economic forecasters in the world. Here's what he just:
"I feel comfortable being heavily in the gold bull market. Why is that? It's because I"m convinced that the bull market in gold is not finished. Big bull markets don't end with a whimper. And that's where the gold market is now. It's quiet, it's almost in a daze. It's whimpy. No, big bull markets end in sleep mode. Big bull markets tend to end in hysteria. We haven't seen anything like hysteria in the gold market yet. I'm convinced that we will. But it may take a lot of patience. Amazing -- gold is still in its narrow rising channel and is close to a record high. Tight channels like this one are seldom seen."
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No, those kinds of channels are not seen very often. Looks like Russell may be spot on again. Here's his website: https://ww2.dowtheoryletters.com/ •
