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Jacob Snyder

To: Jacob Snyder who wrote (118)	8/1/2022 4:07:15 PM
From: Sun Tzu	1 Recommendation of 123

A few comments: Gold's longest and best run happened after gold spent several months 20% below its cost of production. So while I have no reason to believe that gold will go that low, I also don't have any reason to believe it can't go there. As countries try to defend their currency, central banks will be forced to sell their gold and US treasuries. This dynamic is a double whammy for gold: it raises the interest while at the same time increases the supply of gold. The key is the extent of USD strength. So long as it falls, as has been the case recently, gold will do well. But should the USD resume its rise, gold (and all other metals) will be in trouble l. The good news for the bulls is that Drukenmiller expects USD to nosedive. The bad news is that I think he's mistaken <G>. Ultimately it's a matter of timing the USD trade.

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