How Gold Gets To $3,000

Gold last traded at $1,902 an ounce. Silver at $24.30 an ounce.

NEWS SUMMARY: Precious metal prices traded mixed Monday on safe-haven buying despite a firmer dollar. U.S. stocks fell sharply amid record daily coronavirus cases and stalled stimulus talks.

 Seeking Alpha--"It's monetary inflation (i.e., money supply growth) that determines gold's value, not price inflation. Gold would need to increase to $2,400 to get back in line with M2. The U.S. will continue to fund these deficits with more debt and debt monetization. This will result in the rate of M2 growth remaining far higher than historical norms. Physical gold and gold mining stocks remain one of the best options for investors that want portfolio protection from the monetary inflation that is occurring now and that will occur in the future. When gold hit $2,000 per ounce this past summer, many investors were likely showing curiosity but weren't able to judge whether there was a lot more gas left in the tank or if gold was on empty....Since the 2000s, negative real interest rates have been prevalent, and gold has seen a resurgence since the turn of the century....Everything is in place for gold to reach $3,000 per ounce. I'm not predicting that will occur within the next few months...I believe, over the next 2-3 years, gold will hit that $3,000 target."