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Late last year, gold was stuck below $1,300 an ounce. There was a lot of fear in the market because we were only a couple of months removed from gold’s lowest price since 2016.

But I wasn’t afraid…

In fact, I called for $1,500 per ounce of gold in 2019.

In August, it hit my target.

Now, the price has retreated a bit since, but gold’s still flirting with $1,500 per ounce as I write.

Here’s why I’m writing you today: I believe $1,500 is only the beginning for gold.

I expect gold to take out its previous high of $1,900. That’s about a 30% gain from here. And I expect that to happen in 2020.

In fact, as I told Kitco News recently, from there I see it hitting $2,200 – about a 50% rise from its current price of around $1,470 per ounce.

Today, I’ll share why… and how you can start taking advantage…

A Major Gold Rally Is Underway

All of the serious money I’ve made investing came through positioning for a big move and sitting tight. Trading is tough. In and out all the time can work over a short period. But the big gains come from sitting tight and letting the bull market run.

After hitting an all-time high in 2011, the price of gold fell 45% to a low of $1,052 in late 2015.

While the Obama administration and the Federal Reserve experimented with radical money policies, gold stayed stuck. It didn’t do much after hitting its 2015 low.

What’s bad for gold is unbearable for gold miners. They commit to projects assuming they’ll sell produced gold for $1,500 an ounce. Then it falls to less than $1,100. That means the project is bankrupt before it pours the first gold ounce.

That period is over.

I can give you a list of anecdotal evidence as proof. Several large mining firms combined this year in order to survive. These were not bidding war takeovers. CEOs got over their egos and merged to avoid losing their companies entirely.

Political dysfunction and ballooning deficits also set the stage for gold today. The three largest central banks in the developed world recently declared they’ll do anything to stimulate their economies. That’s central bank lingo for “create more money.”

But we need more than strong anecdotes to risk money on the gold sector.

From our view, that’s why the chart of the gold price is so important. It’s how I determined $1,500 was an important target for gold this year. If it hit that target, which it did, I felt it was a green light to invest more aggressively for higher prices...

> more: https://www.legacyresearch.com/the-daily-cut/gold-will-take-out-its-previous-high-of-1900-next-year/