Gold is the 'real bitcoin': Trader sees new highs ahead for the metal

"I guess gold is the real bitcoin," Schlossberg joked on CNBC's "" on Wednesday. "Ultimately I think what's happening is the market is taking implicit bets that inflation is starting to pick itself back up, and I think there's a really good reason why the market thinks so."

Schlossberg said stimulus from global central banks that has fueled a fiscal expansion is going to make its way into the economy and drive inflation higher. This, then, will encourage central banks to hold rates low. "Central banks are still going to have to keep rates very, very low, because their first and foremost priority right now in a post-Covid world is to maintain momentum, to maintain expansion as much as possible," said Schlossberg. "So they'll suppress interest rates, inflation will go a little bit higher, and of course gold loves nothing more than real interest rates going lower and lower and lower.

"This has been a 10-year base in the making. And as we're moving above this $1,800 level, there's zero question in my mind that we're going to trade up toward about $1,912," Johnson said during the same segment."The bigger the base, the bigger the move. And if you just measure the height of that base and stand it up, you could have a substantially higher price of gold in here as you start to break out even above that $1,912 level. ...

TradingNation 6 months ago, Gold was obsolete, what happened?

TradingNation when i start reading articles by you and other media sources saying gold is 2000 and 2300 .. its time for me to go short .. 15 years in Forex, that's the lesson i give to readers Regards

TradingNation Copper will outperform gold

TradingNation You can’t buy anything with gold at the store, you can’t send gold to relitives in other countries real-time, you can pass covid-19 to others or get it by handling gold...XRPNEWGOLD

TradingNation xrpnewgold

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