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News Link • Gold and Silver

Gold Smashes Above $1800 For First Time Since 2011

• https://www.zerohedge.com, by Tyler Durden

We asked yesterday - What happens next: a panicked scramble to procure physical gold, one which even our friends at the BIS will be powerless to stop from sending the price of the precious metal to all time highs.  

It appears that has begun...

Silver also soared back above $18...

Gold is tracking higher along with global negative-yielding debt...

This move comes, as SchiffGold.com notes, as Citibank has joined other mainstream gold bulls calling for record gold prices.

Citi raised its gold price forecast this week. It now projects a three-month price of $1,825 per ounce and for the yellow metal to head into record territory in 2021. Citi analysts expect gold to eclipse the $2,000 mark early next year.

Citibank joins several other mainstream players that now project record gold prices in the coming months. Last week, we reported Goldman Sachs now forecasts record gold prices within the next 12 months and Bank of America released a note saying gold could break its US dollar record by the end of the year if it continues to breach key resistance levels.

Meanwhile, SGMC Capital Founder & CEO Massimiliano Bondurri told Bloomberg he thinks gold may hit close to $2,000 by the end of this year and could rally further due to dollar weakness.


http://www.thelibertyadvisor.com/declare