Gold steady as the dollar fights for credibility
Gold is hovering around $2,320/ounce, down from its all-time high of $2,450 on May 20th. Silver has taken a bigger hit; down 11% from its May peak.
Gold is hovering around $2,320/ounce, down from its all-time high of $2,450 on May 20th. Silver has taken a bigger hit; down 11% from its May peak.
Silver skyrocketed this month as the market realized the world will demand much more industrial metal than miners can provide. And yet, silver remains far below its 2011 high.
Costco enthusiasts love the big box store for household goods and $1.50 hot dogs. But now, card-carrying members are flocking to the retailer for… Costco gold bars?
Typically, rising yields are bad for gold. Not this year. Rising yields represent an increasing risk of a public debt crisis, for which gold may be the only remedy.
When the Fed cuts interest rates this summer, gold and silver stand to absorb billions of dollars as investors redeploy their mountain of cash.
Gold has risen 6% in less than a week, achieving an all-time high.
Low credit spreads and surges in “extreme greed” often reflect a fervor which disregards proper risk assessment.
Watch the replay: David McAlvany, CEO of Vaulted, discusses the 2024 economic outlook and strategies for investors.
Gold hit $2,146/oz on Monday, exceeding its previous all-time high by $65.
Monetary tightening has created difficulties for the US and foreign governments in managing debt. As these issues persist, gold's role as a hedge against monetary instability and geopolitical unrest becomes increasingly important.