It isn’t only gold projects that juniors are having trouble getting financed, leading to fears that a paucity of new deposits will lead to commodity shortages.
Countries that participate in the novel cross-border payments system mBridge are each hoarding gold and are largely responsible for the bull market of the past two years.
Robert F. Kennedy, Jr. and Donald Trump, Jr. write: “We cannot get any closer to the brink than this. And for what? To ‘weaken Russia’? To control Ukraine’s minerals?"
With residential prices set to fall, a repeat of 2007-08 seems inevitable. This time, greater excesses could severely impact the economy for a decade or more.
Demand drivers for gold include rate cuts, central bank purchases, strong physical demand from Asia, rising gold ETF interest, and safe-haven demand amid geopolitical conflicts.
The gold market continues to experience tightness due to difficulties expanding existing deposits, and a pronounced lack of large discoveries in recent years.