Perhaps you’ve heard of John Hathaway; he is a senior portfolio manager of the Tocqueville Gold Fund. Earlier this week he wrote in Barron’s that "an acute shortage of gold can boost prices." But, as mentioned in our previous articles, his analysis is wrong. As the supply and demand dynamics of gold are unlike those of other commodities such as rice or wheat, there cannot be an acute shortage. After all, gold isn’t consumed, so there is never an actual physical shortage. But that’s not the error I want to discuss today.

The Same Thing All over Again

Gold Has Even Outperformed Platinum and Silver

overview of projections for the gold price in 2016 and 2017 (click on the table to enlarge the image)


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