Most people fixated on the red-hot U.S. stock market last year. Gold was better. The yellow metal edged out U.S. stocks to rank first among traditional asset classes.
While the past couple of months have been frustrating for gold bulls—myself included—I firmly believe that our patience will be richly rewarded once gold climbs to $3,000 and much higher.
Armstrong notes the govt’s rising interest expenditures are driving inflation beyond the Fed's control, leading to stagflation. As confidence erodes, gold may rise alongside other assets.
Once purified, the gold goes through a sequence of heating and cooling cycles (annealing) to make the metal more malleable. It is then hand-formed into jewelry at the mint.
Central banks around the world have bought thousands of tons of gold after the U.S. and allies froze Russian dollar assets and locked Russia out of the SWIFT payment system.
