Published: 2019.10.02. Analyst: the rise in the price of gold is not a coincidence

Analyst: the rise in the price of gold is not a coincidence - Preview

After reaching a record high in 2011, the price of gold has been in a downtrend for many years. But now she was able to restore lost ground and return to the “bullish” trend. According to German economist Thomas Bachheimer, the events in the gold market are not an accident.

Thomas Bachheimer is the president of the European Gold Standard Institute, as well as the author of his resource Bachheimer.com. In an interview with FinanceNewsTV news portal, he spoke about the situation in the global gold market.

The journalist asked the expert a provocative question regarding price increases. The fact is that Buchheimer all past years predicted the return of an uptrend in the gold market. And this event happened. According to the moderator, this could be a coincidence. But, according to the expert, the return of rising gold prices is explained by the existing system of paper money, which is not provided with anything (fiat money). The rise in the value of gold was a logical event.

All previous years after the events in 2011, the price of gold showed wave-like movements. Bachheimer pointed out in an interview that he started talking about the prospects for gold not from 2011, but from 2004. Then one ounce of yellow precious metal cost "just" 430 dollars.