Kitco: Is the gold rally just getting started?
(Kitco News) – We get to close the book on another week and another nearly 5% gain for gold as this rally in record territory appears to be unstoppable.
To be honest, I have been dreading writing this week’s note because of the volatility in the gold market. It feels like anything I write becomes obsolete the minute it is published. Just look at my headline from this morning: Gold price testing support at $2,300 after U.S. economy created 303K jobs in March.
That article was accurate for about 30 minutes, and then the price started taking off, with June gold futures eventually touching $2350 an ounce…
“Gold tends to become more attractive in times of instability when investors pile into safe-haven assets as a hedge against the economic climate, geopolitical tensions or inflation.” If this comment shows true then gold is that Canary in that coal mine. The training wheels are now off and whoever is buying have deep pockets and are prepping themselves accordingly.
Is in a coincidence that more an more billionaires are building bunkers?
Ya it’s a great place to stack their grey and yellow. 🤔