Prompted by a recent comment by a naughy-named contributor:
I’ve decided to do a short write-up on gold, and how the Peachy Prediction compares to the Macrobusiness perspective.
Now, I shall lead off with the disclaimer that while gold is something that Peachy values, the gold market isn’t one that Peachy really follows closely (certainly not with weekly posts, like Davo), so had to go and do a bit of research for this one, to look up how the Peachy Prediction had gone.
It all started one April afternoon in 2020, when Davo decided to shit on Peachy’s post. Peachy had posited that gold had already had its big bull run over the last 2 years. Davo disagreed, saying:
- Stick to banking, Peachy
- Buy the dips (in gold)
- Gold has a shot at $10,000 this cycle
So, did Davo justifiably rain on the Peachy Parade or was Davo just showcasing exactly why the word ‘former’ precedes ‘gold trader’ in the short bio:
That was 14 April 2020, so why don’t we see what happened up to, and since, that date, eh:
Once again, it seems that Davo has managed to pick a rather awful time to try to slap down the Peach and to to make a forecast. I hope nobody was persuaded to buy gold in April, because other than a few tiny head-fakes above the April price levels, it has been going down down down!