We have to take complex geopolitics into consideration when attempting to determine the outlook for Precious Metals’ prices, as well as other commodities, in particular oil and gas.
Even though major gold miners are high-grading their reserves, mining all the best gold and leaving the rest, they still didn’t manage to satisfy global demand for the precious metal.
Gold shan’t become moon-bound until the current All-Time High (2089) is eclipsed; thus it remains for now range-bound. As of Friday, Gold's price rose +10.7% in 16 trading days.
About 2 in 3 Americans say their household expenses have risen over the last year, but only about 1 in 4 say their income has increased in the same period.
Neither voters nor investors should expect much to change in terms of the trajectory of spending, debt, and inflation. This week the gold market consolidated near the $2,000 level.
It’s too easy for the mainstream to forget that gold had been strong prior to the Mid East conflict. Interest rates are surging and gold is giving them the proverbial middle finger.
Big increases in US Treasury auctions keep funding the deficit. I keep writing about the Big Bond Bust because the US bond market is the heart of the entire global economy.
