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« Even Reuters Gets It: "Money-Printing Has Pushed Stocks Out Of Kilter With Economic Reality" | Main | Gold and Silver Dominate the ETF Charts »
Wednesday
Aug102016

The victory for gold bulls is only just beginning

The expansion of unconventional monetary policy will feed demand

Gold prices have rallied more than 30 per cent since the lift-off in US interest rates in December. A sharp reversal in pricing, sentiment and positioning driven by a myriad macro and micro factors has left the gold bears and bulls as polarised as ever.

The bearish camp, which has featured prominent and respected analysts like Goldman Sachs, tends to have a constructive view on the US dollar, the ability to raise interest rates, normalise global monetary policy, and generally a benign view on the global economy and inflationary risks.

The bullish camp, which I subscribe to, tends to have a more pessimistic view on the global economy and the unintended consequences of monetary policy without limits, and sees the recent price action as the beginning of a multiyear bull run in gold.


read more....

The USD is falling at the moment putting upward pressure on gold at least for now.

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