| Note that real rates (top chart) bottomed a few days before gold did (bottom chart). Real rates bottomed on March 12, while gold bottomed on March 20.  We saw this same dynamic play out again more recently in June of 2021 when real rates bottomed on June 17 (red circle) while gold didn’t bottom until the June 29 (blue circle).  This would suggest that real rates will in fact lead gold higher going forward. Again, real rates have been soaring while gold is struggling to ignite higher. The chart at the top suggests gold will eventually be running to $2,000 per ounce in the coming months. What would trigger a run like this? Inflation. I’ll outline how and why in tomorrow’s article until then… Best Regards,  Graham Summers Editor, Money & Crisis |
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