Today I update a few price predictions for gold and silver assuming they follow a similar trend to what they did back in the late 1970s. But first I update the price of gold in 1959 dollars, calculated by stripping out the effect of dollar deflation using the M2 money supply. For an introduction to this please first read the following in order.
- Inflation Compared to the Prices of Gold and Silver Exposes the Theft,
- When Gold’s Real, Uninflated Price Breaks Out, and
- Gold and Silver Herald the Collapse of the Dollar.
Using the latest M2 data and the price of gold up to July 1, 2024, I have updated my gold price in normalised to 1959 dollars (first publish in chart 6 of 1. above) when the price of gold was $35.10. See Chart 1 below.
Based on previous peaks in gold rallies, priced in 1959 dollars, the normalised gold price should stay below the straight line (1). By February 2024 it reached a price very close to the statutory price of $42.2222 set in 1973. See What is Money? Who Controls It?
Since March 2024 the uninflated price of gold has broken out of the triangle after it crossed line (1). And it has continued to stay well above that line since.
That means the real price of gold has increased, not just in nominal terms. That is, after the effect of currency price inflation (or dollar devaluation) has been stripped out, the price is still well above its statutory value. This is extremely bullish for gold and silver prices.
In the following I have compared the actual prices of gold and silver to a prediction by Rafi Farber based on translating, to this present time, the price increase that occurred in 1977 to 1980. For an introduction to that prediction read The Coming Crack-Up Boom.
Similarly I have update the prediction for the silver price. For an introduction read Silver in the Crack-Up Boom.
In both cases the actual gold and silver prices in nominal dollars are tracking above the predictions. We’ll see what happens from now. I’ll update these again in 3 months or so if we get that far.
If anything like these predictions come to pass, there is one thing I can say, we sure live in interesting times.
Please prepare for a period of turmoil that must come as the almighty dollar crashes!
Recommended Reading
- Book: Apocalypse Now: On the Revelation of Jesus Christ
- Book: Merchants of Death: Global Oligarchs and Their War On Humanity
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