The great gold rally continues, it is a victory lap for gold bugs and those advocating a system of sound money, which supports a store of wealth and sustainable development. Since time immemorial an ounce of gold has always been able to buy a fine suit. Precious metals, particularly gold and platinum is often portrayed as a barbaric relic of the past, but the recent gold rally underscores gold as a prime haven asset that protects...
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The great gold rally is underway, the Fed’s 25bps “hawkish rate cut” in July means that the opportunity cost of holding gold could soon be zero. So the hedge funds have gone all-in on gold. I believe that we are in the preliminary stage of the Fed’s rate-cutting cycle, which will be the shortest cycle ever bearing in mind that with the Fed fund rates at 2.25% it won’t take long to get to zero. Back in January, I...
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