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Chris Rutherglen: Could $3000 Gold Happen in 2023?

Tom welcomes back private investor and engineer Chris Rutherglen. During the past year, he started a Substack which is more useful for long-term content. It’s called Gold Investor Research, and he discusses a recent article where he expects gold to head in the short term. The Fed is likely to have done a 50 basis point rate hike on Wednesday. That coupled with the CPI print could send gold in either direction, possibly higher. Looking at markets from multiple perspectives is beneficial for determining where things are likely to head.

He provides a number of interesting charts which analyze the long-term price movements for gold. He charts the TIPS against gold to try and understand inflation expectations and where the gold price could move.

Chris discusses why gold could move to $3000 in the next move based on its historic patterns. During has hit its seven-year cycle high when the Fed reaches the middle of its rate cutting phase, with the low at the end of the cutting phase. The sweet spot for gold is coming.

Things are starting to look good for gold investors, although many may have lost patience. 2023 is shaping up to be a good year.

Time Stamp References:
0:00 – Introduction
0:53 – Substack & Gold Pricing
4:10 – Gold Volatility
9:00 – COT Report Trends
12:52 – Gold Price Cycles
16:38 – Long-Term Gold Charts
21:36 – 1970s, Yield Vs. Gold
34:28 – Gold Price & Inflation
41:16 – Algos & Price Action
42:16 – Gold Consolidations
47:12 – Gold & Fed Funds Rate
56:43 – Gold 7 1/2 & 15-Year Cycles
1:01:10 – HUI Overlay Chart
1:03:58 – Patience & Evidence
1:05:00 – S&P/GDP & CPI
1:08:34 – Investing Framework
1:10:08 – Metal Ratio Trading
1:12:23 – Wrap Up

Guest Links:

Chris Rutherglen is a private investor whose primary occupation is in science & engineering with a focus on novel semiconductor devices for microwave and mm-wave applications. He began investing in the precious metal space in 2003 and has done well following a value-oriented investment approach. Although he has never been employed in the finance/investment field professionally, he did complete level 3 of the Chartered Financial Analyst (CFA) program in 2011. Chris has a BS in physics from the California Institute of Technology and a Ph.D. in Electrical Computer Engineering from the University of California, Irvin

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