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Gold Rally Finally Collapses Under Its Own Weight
Earlier this month, when spot gold first cleared $4,000, I gently suggested it was time to consider
I heard that Hassett stated he expected the shutdown to be resolved this week … I figured gold would sell off upon resolution so that’s my two cents guess as to today’s action…
Gold’s current speculative run began in earnest around February 2024. It picked up again in December 2024 (one month after Trump’s election), and its most recent tear began around July of this year. I can find no real catalyst for these moves, but each seems to have come around the same time as Bitcoin was beginning to decline. I would not be surprised at all if it was mostly the same speculative investors moving back and forth from one investment to the other these past twenty-months or so.
Gold is in it’s correction. I can’t wait to read your first editorial after it hits 5K.
Me neither.
You have any comment on this chart?
https://www.visualcapitalist.com/central-banks-now-hold-more-gold-than-u-s-treasuries/
You mean beyond the thousands (literally) of articles I’ve written since 2020 arguing for and against USTs as the preferred global reserve asset?
I never know what to make of these kinds of questions. Like showing a professional basketball analyst a chart comparing Michael Jordan’s career statistics to LeBron James’s and saying, “Do you have any comment on this?”
Yes, I um, have some comments on the future of USTs in global reserves. And those comments run into the many millions of words by now. But you would’ve needed to read them all along the way, and you’ll have to keep reading, every day, to stay apprised. That’s what the articles are for.
$4000 was a little frothy.