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2.3.25 - Gold Hits New Record High
2.3.25 - Gold Hits New Record High
Gold last traded at $2,814 an ounce. Silver at $31.58 an ounce.
Gold Hits New Record High; Dear Jerome Powell, Is Everything Under Control? -MishTalk
Gold does not believe the Fed has things under control and neither do I.
Reuters reports Gold hits record high on safe-haven demand amid tariff threats.
At the beginning of 2021, the US dollar index was 89. The US dollar index is now 108.
The price of gold advanced from $1962 to nearly $2900. It's now about $2850.
Yet, people still believe moves in the dollar determine moves in the price of gold.
I suggest the price of gold moves in accordance with long-term inflation and faith in the Fed.
From 1980 to 2000 there was inflation every step of the way, but gold fell from $850 to $250. There was inflation from 2011 to 2015 when gold fell from $1923 to $1045.
People thought Greenspan was "The Great Maestro" and Mario Draghi saved the Euro.
Gold tends to do very poorly in such times and in periods of disinflation.
A friend of mine emailed some thoughts on what has changed
