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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

John Authers: Gold is expensive, and may be just warming up

By cpowell
Created 2020-08-06 16:23

By John Authers
Bloomberg News
Thursday, August 6, 2020

As I write, gold has surged to yet another record, topping $2,050 per ounce. Is it overpriced?

The question is impossible to answer. Gold's value rests in the eye of the beholder, and over recorded human history people have continued to find it beautiful. It pays no income, and its intrinsic value is set by the market. Valuation techniques that work for other assets won’t work for gold.

... Dispatch continues below ...



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The fact that we will never scientifically arrive at a "correct" price need not stop us from trying, however. And after going through the various valuation exercises, the rally looks rational. While the current price looks expensive, it could easily rise further. ...

... For the remainder of the analysis:

https://www.bloomberg.com/opinion/articles/2020-08-06/gold-is-expensive-... [4]

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Source URL:
http://www.gata.org/node/20370