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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

4:00 PM EST

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To: Real Man who wrote (115912)	1/8/2024 3:58:32 PM
From: Sun Tzu	Read Replies (2) of 116791

Gold and silver are not inflation hedges. They move with the interest rates rather than inflation. You can easily see this if you look at correlation and lags thereof between gold and UST1YR. The reason gold has gone up recently is b/c central banks have been hoarding it as a hedge against US confiscation and to diversify their reserve holdings. Whatever the public buys is nothing compared to what CBs do. Now back to what I was saying. My discussion is not about gold price movement. I thought I was pretty clear on that when I replied to Rarebird that I am not looking at it from his POV (which was trading gold). The importance is for stablecoins and political movements.

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