Could the price of Gold be smacked down to 1584/oz ?
Well, there is the Debt Ceiling that can be avoided if the Treasury reprices gold from $42.22 to 1584/oz to create a few hundred billion USD in spending power without raising the Debt ceiling. Of course, the Treasury can have the commercials naked short gold to $1584 from the current $2014 to create even more profits.
Why $1584/oz?
There is a descending trend line from 16-Jan-2023 to 24-Feb-2023.
A price projectioon from the current $2014 on that Trend line to 1-Jun-2023 (The source for this date is Treasury Secretary Janet Yellen).
Was it a few months ago that Charls Nenner mentioned $1584 as the gold price when everyone would throw in the towel before gold starts the next leg up? It would give the bankers another opportunity to load-up on cheaper gold & silver...
This idea is a variation from James Rickards 9-May-2023 article on dailyreconing dot com :
Rickards: "Weird Gold Trick" Could End Debt-Ceiling Showdown
Why $1584/oz?
There is a descending trend line from 16-Jan-2023 to 24-Feb-2023.
A price projectioon from the current $2014 on that Trend line to 1-Jun-2023 (The source for this date is Treasury Secretary Janet Yellen).
Was it a few months ago that Charls Nenner mentioned $1584 as the gold price when everyone would throw in the towel before gold starts the next leg up? It would give the bankers another opportunity to load-up on cheaper gold & silver...
This idea is a variation from James Rickards 9-May-2023 article on dailyreconing dot com :
Rickards: "Weird Gold Trick" Could End Debt-Ceiling Showdown
Comment:
If consider the trend line low $542 from June 2006 through $1160 from Aug 2018, and the current downtrend channel from Aug 2020, then there is a forecast for $1603 gold Oct. 2023 during a stock market correction.