Gold Price Estimation Using Formula of Balance Sheet and GDP
Formula
Gold Price * (1+%change of balance sheet)/(1+%change of GDP)
backtest on uptrend where gold top at 1920 in year 2011. The estimation calculation using the formula is 2025: near to actual
backtest on downtrend where gold bottom around 1100 in year 2019. The estimation calculation using the formula is 1076: near to actual
Estimation calculation using the formula for gold price now as of 25/7/2020 using data from
2008 to now : formula calculation is 4778 (25/7/2020)
2011 to now : formula calculation is 2777 (25/7/2020)
2018 to now : formula calculation is 2958 (25/7/2020)
Source