Brien Lundin joined me to talk about what’s happening, and why there’s a rapidly increasing chance that the next 25 years in the gold market look incredibly similar to the last 25 years.
The surging gold price likely factored into slowing central bank gold accumulation. As the World Gold Council put it, the higher price prompted “a more cautious approach.”
MKS PAMP metals specialist Nicky Shiels told Reuters the “debasement and de-dollarization” premium has risen from about $120 an ounce before 2022 to an average of more than $1,000.
Maund said gold may be reacting back toward the upper boundary of a bullish falling-wedge pattern. He identified roughly $3,900 to $3,950 per ounce as a potential area of strong support.
With stagflation, expect slowly rising unemployment at first (slowly because many are just leaving the labor force or being deported) coupled with continually rising inflation.
