Investors need to remain focused on the big picture for gold and silver during periods of volatility. Plus a look at used car prices, inflation and crude oil.
Big Picture For Gold
January 22 (King World News) – Graddhy out of Sweden: Something huge is brewing for precious metals.
Very big picture, we have seen the 70’s bull, the 2000’s bull, and now started a final 3rd bull within the present monetary system.
Gold $10,000-$15 000 is next.
Gold Price Target $10,000-$15,000 For 3rd Great Gold Bull Market
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Used Car Prices, Inflation And Crude Oil
Peter Boockvar: We know car prices, both new and used, are a big part of the goods price situation as well and Ally Financial gave us their 2024 used car estimates in their earnings call Friday. After falling by 9% in 2023 and down by 26% from their 2021 peak, “We are assuming another 5% decline in 2024, with much of that decline occurring in the first half of the year. That would result in a total decline from peak levels of just over 30%.
We continue to expect used values will stabilize and ultimately settle around 20% higher than pre-pandemic levels. With new vehicle production below pre-pandemic levels for nearly four years, used supply will remain 15% below historical norms over the next several years and provide structural support for used values.” This last point from Ally is something I’ve made for a while now when looking at where inflation eventually settles out at sustainably.
One of the biggest surprises in the oil market in 2023 was the impressive increase in US oil production to 13.3mm barrels a day, a record high in the face of a continued drop in the crude oil rig count. Greater efficiency and productivity gains helps to explain. That said, we have to be on watch on how sustainable this is if the rig count continues to fall.
US Oil Production (WHITE LINE) Now 13.3 Million Barrels A Day. However, Rig Count (ORANGE LINE) Remains Below 500
Nomi Prins Best Audio Interview Ever: Gold Price May Double In 2024!
To listen to one of Nomi Prins’s greatest audio interviews ever where she warned the price of gold may double in 2024 CLICK HERE OR ON THE IMAGE BELOW.
Latest Audio Just Released!
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