On the daily chart of gold we note that our ‘best’ downside support target of 1830 was taken out. We had an extensive update on gold with daily through long-term views, and the relic ain’t dead yet.
That’s an ominous note for inflation. It means consumer prices could stay higher for longer as companies try to recover their own higher costs and lost profits.
Western sanctions against Russia, as punishment for its invasion of Ukraine, have left us pondering the fate of the dollar, which comprises 16% of Russia’s foreign reserves, and the future of the monetary system as a whole.
No hedge fund has ever blown itself up by holding physical gold, but if they hold levered gold then it’s no longer the hard, tangible golden asset that you need to have in order to prevent said blow-up!!
So be ready. As challenging and frustrating as the last few weeks have been, you must understand that it's a process—and also something that we've lived through before.
The drive to censor is driven by the woke mob and authoritarian establishment’s fear that their policies could not maintain majority support if forced to compete in a free market of ideas. This shows...
