There are several variables that must be taken into account. 1. what strength will the USD have against other currencies($764 Gold in USD could be $1600 AUD then)
- Today's sophisticated computer algorithms have been manipulating Gold and Silver beyond reason.
- Manipulation always ends
Demand far outstrips supply, any collapse in the gold price may last days if not minutes, moreover, who will be able to purchase physical gold then?
Demand of gold will shrink a lot, as people rather want to hold bitcoin. When the masses in India trade their gold to crypto I bet supply will be 2x demand.
I messaged haejin's gold chart to the local goldsmith, and he said it is very likely, but of course he hoped the dip would not go so far.
Silver is so low value now they melt jewellery, spoons and bowls into bars all over.
Manipulation ends ? I hope so but it's been going on for a very very long time