A review after 53 months!On April 11th, 2021 I published this analysis which I believe is second to none for timing and price target accuracy!
Gold is money. Everything else is credit. (J. P. Morgan)
Gold has at least 5000 years of history, so this is just an analysis based on the last 1% ..!
It is obvious that Gold's past 2 bullish rallies last for 10 years..! and I believe we are in the middle of the 3rd one which could push Gold's price to 3500-4000 USD/oz in the next 4-5 years.
If you do simple research about the corrected value of gold based on the inflation after lifting the gold standard. (In August 1971, Nixon severed the direct convertibility of U.S. dollars into gold. With this decision, the international currency market, which had become increasingly reliant on the dollar since the enactment of the Bretton Woods Agreement, lost its formal connection to gold.)
A long-term US dollar gold price since 1700, inflation-adjusted by the US Consumer Price Index (CPI-U) from the Bureau of Labor Statistics.
shows based on this CPI adjustment, that the all-time real high of the US dollar gold price was in January 1980 at the US $ 3045 per troy ounce.
Gold's Market Cap
Estimated Market Cap: $11.055 T
The Market Capitalization of Gold is currently around $11.055 T.
This value was obtained by multiplying the current gold price ($1,740 per once) with the worlds' above-the-ground gold reserves.
The amount of above-ground reserves for Gold are estimated to be around 197,000 metric tonnes according to the World Gold Council. Note that the estimated ground Gold reserves can vary by up to 20% from one source to another.
As a consequence, it is safe to say that the current Market Cap of Gold is between $8.844 T and $13.265 T.
