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Two Wild Charts Show Scope Of Gold Frenzy
Gold's "getting bubbly." And, along with silver, it's "nutty overbought."
The quotes are from BofA'
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Look at the 1970’s when gold last became unhinged and the world lost faith in the U.S. and its ability to manage the world economic order. We had Nixon, not as bad as Trump, but similar. The came Ford, and the U.S. lost control of inflation. Today’s charts are CALM COMPARED TO THOSE. We suggest that the future is more likely to be more dangerous for assets and growth than it was then.
Comparing to 70s, today’s move is definitely amplified by speculative mania facilitated by instant access to these assets(robinhood/perp cex dex/Alipay’s in-app access to gold trading etc)