Price mark July 29, 2020: The latest London gold price fix is $1940.90.
From a Financial Times editorial:
Gold’s rise may be overdone. History suggests that it rarely maintains these sorts of levels and the wave of fear over the future of the US and world economy that propels it eventually breaks. For the moment those fears are grounded, but gold’s disadvantages may soon become clear again.
From Joe Weisenthal the executive editor of news for Bloomberg Digital. Tweeted July 27, 2020:
Note: Gold is primarily a hedge against price inflation. The Federal Reserve has printed massive amounts of money over the last three-plus months. The potential for a major uptick in price inflation is very high. Gold will climb in this environment.
It is an absurd time to give gold as an investment the short shrift. But it is good to have the mainstream gold haters on record at this key point in time when the price inflation threat (for the things we are buying) is extraordinarily high.
Known gold haters:
Paul Krugman
Warren Buffett
Joe Weisenthal
Ben Bernanke
Known gold haters:
Paul Krugman
Warren Buffett
Joe Weisenthal
Ben Bernanke
-RW
I mean, how can you not love this headline:
ReplyDeletehttps://www.cbsnews.com/news/gold-price-all-time-high-coronavirus-recovery/
"It's a bit of a mystery..."
Yep it sure is, until you look at a money supply growth chart.
David
Most of life is a "mystery" to the idiots in the mainstream media.
DeleteWhether Trump stays in power or loses in November and team D gets complete control, I can't see any direction but up for precious metals. Political and economic insanity are guaranteed either way.
ReplyDeleteJoe's 2 cents will cost 5 soon. Maybe that will make him feel better.
ReplyDeleteSilver has suddenly made its value known in the last week. Hold on to the PM's and get more if you can
ReplyDeleteI would bet these "gold haters" are busy buying it for themselves. They just talk shite to keep it down while they are at it. They aren't afraid for their reputations since they know for sure that the humaniform hamsters following their advice don't remember anything they said a week ago.
ReplyDelete