Inflation is not all due to rising labor costs and materials costs, transportation costs, etc. It’s also largely driven by a huge effort to push fatter profits into bigger pockets.
Hoye explains that when crude oil prices lag behind gold prices, it helps keep costs down for gold producers, but it can lead to difficulties for base metal industries.
What nobody wants to say out loud is that rates are too high for an economy loaded up with trillions in debt. It’s only a matter of time before something breaks.
Investors have remained optimistic that shelter costs will start to come down for months. So, up the market went on the lingering fumes of vain hopes...
Haggith predicts short-term challenges for gold if the Fed raises rates, but foresees potential for significant gains due to underlying economic weaknesses.
Mine output rose modestly by 1% in 2023 to 3644.4 tons, but it still hasn’t recovered to pre-pandemic levels. These countries were the top 10 gold producers in 2023.
