Scary Price Drop! It’s GAME OVER For Gold & Silver When This Happens? – Chris Vermeulen
Scary Price Drop! It’s GAME OVER For Gold & Silver When This Happens? – Chris Vermeulen
A massive decline followed in 2008, so the implications are, of course, very bearish for all those markets, including world stocks.
Spurred by the 9/11 attacks and the geopolitical instability which followed, Gold’s bull run during Bush’s presidency from 2001 to 2009 could’ve been even greater had the 2008 global financial crisis not occurred. Instead, fear of deflation and a flight to the safety of the US dollar resulted in a 30% dip from the peak to trough of gold prices in 2008.
Internationally recognized technical analyst Chris Vermeulen states that Gold may face a 25-35% pullback after reaching the 2,700-dollar range, similar to its 2008 performance. He advises caution when buying Gold now, expecting better opportunities later. Notably, Gold’s strong performance during market crises, such as the 2008 financial meltdown, highlights its value as a defensive asset during turbulent times.
Regarding Gold’s performance, Chris notes that while it has risen steadily, it hasn’t reached an overbought state or attracted excessive buying. He suggests that Gold is approaching its peak based on long-term technical indicators. Commodity analysts who make long-term forecasts believe that the price of Gold will generally keep rising in the next few decades as the demand for the precious metal increases.
In a research paper recently published in the journal Trends in Ecology and Evolution, Josep Peñuelas, a research professor, warned that by 2050, the world could run out of essential metals, including Gold.
Despite Gold’s all-time highs, Chris points out that miners remain underperforming due to rising extraction costs. He predicts that the sector hasn’t fully gained momentum yet and expects GDX to drop 15 to 25 dollars in the event of a financial reset. Experts like Peter Schiff also state that ‘Gold has set to have its best year since 1979 when it rose 126%. Yet the GDX is only up 31%. That means investors still haven’t noticed the bull market or added mining stocks to their screens.
During the interview, Chris Vermeulen expresses surprise at the Fed’s 50-basis-point rate cut. He predicts this has sparked a “buy the rumor, sell the news” reaction in bonds. From a technical viewpoint, Chris underscores that after the rate cut, he shifted from bonds to equities, expecting short-term gains. Traditionally, big Fed interest rate cuts and equity prices hovering near all-time highs are ominous signs for the stock market.
Despite large Fed rate cuts typically signaling a recession, some analysts believe the market is set to benefit from an unusual best-case scenario, even with record-high stock values.
Detrick’s analysis shows that when the Fed trims rates to bring them back to normal after a flurry of rate increases, the S&P 500 climbed an average of 13.2% in the following 12 months. That’s mostly why Fed officials say they’re bringing down rates now.
However, he predicts that rate cuts signal deeper economic issues, and he’s bearish on the market long-term, anticipating a significant correction within a year.
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21 Comments
omg so much bla bla bla for nothing
In 2008 Debt was 68%, now around 130 %. Who’s going to buy US t? Confidence in our currency is eroding. There may be a temporary pull back in gold price, but not the percentage you’re saying.
Don't panic.
Yep, too much debt now and still climbing. Banks and large investors are now buying gold whom understand that the debts have simply gone off the charts. Any pullback in gold/silver prices should be short and only a minor situation. Demand will also continue as people search for safe haven assets. With deficits out of control, world wars and monetary system collapses happening under our noses, the increases of security for metals will always take center stage.
Your smoking dope! Gold is going to climb
He sounds like a Democrat
US debt will not be wiped clean in 4 years, this is maybe two or more generations effect. As the banking, pharma, and the national defense industries get paid off with the help and agreements of a consolidated both political parties. Have you seen oil’s drop, like DVN? Precious metals going through looong squeeze play on a high liquidity slow state.
I agree with alot of what you said except when it comes to gold. You ignoring the fundamentals. Chia, India and even our central bank buying massive amounts. The fact that starting Oct. 1 banks will have to have 4.5 of there assets backed by gold+. And BRICS meeting Oct. 22-24. Everything isn't just technical. Thank you for your technical insights though!
Gold has to pull back but silver will continue to rise….due to silver being undervalue…..for so long…….buy silver bars and hold
in year 2008 , dollar was not weaponised . us debts was reasonably low . BRICS were not ready then . This coming collapse of stock will changed the order of the world .
BRICS is controlling gold and silver – sounds like this guy is in the pocket of the Fed – government wants the price to drop to protect the dying dollar
2008 is of little relevance in 2024, as central banks are far more actively involved. Are they really about to dump gold? Perhaps some retail holders, what holders there are.
Been wondering how long before this line was being touted. Really don't know who to believe. Seems many commentators are basically calling this and that to happen, if it does they can crow about it if it doesn't they change their tune for something else hoping no one remembers. Does anyone really know?
what are you on, yes gold could pull back but then climb to new highs again and again
This is old shit
I hate when I put somebody on the front and it was from two years ago
What a loser
$11.50 for silver.. I think he doing something..
Stack now. 😊
or….. wait …. Then build a tree.
🌳 👀 Build? Mmm hmm
Yes, Build.
😮 You think you should have planted a tree? 😂
You're not very good at "clickbait" titles and you're worse at copying other people's content and putting your own spin on it. Very original…not
Chris is probably wrong on this call, a totally different issue than 2008, very little similarity.
I don't see it with more rate cuts.3,000 grand by 25.