The website cannot function properly without these cookies.Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting informationMarketing cookies are used to track visitors across websites. According to technical analysts (I am not one), this pattern might suggest gold has further upside and that the secular gold bull market has resumed.Comparing the historical gold price to the M2 money supply provides further support for the bullish argument and can be one of several different measures to assign a target value for gold.The chart below shows the gold price as a fraction of M2 money supply. $17.99. From The GuardianGold has surged by 20% since the depths of the pandemic, and some analysts reckon it could hit $2,000 for the first time ever.A weak dollar is good for gold, given its reputation as a safe-haven from inflation and money-printing.Let us start with the price noting that this is a futures price ( August) as we remind ourselves that there is often quite a gap between futures prices and spot gold these days. The risk to this would be a stronger-than-expected economic recovery, persuading central banks globally that they can safely taper or halt their extraordinary stimulus spending on assets. The Creature from Jekyll Island: A Second Look at the Federal Reserve For more detailed information about the cookies we use and of who we work this see Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website and cannot be switched off in our systems. A weak dollar is good for gold, given its reputation as a safe-haven from inflation and money-printing. Most commodity prices are a balance between supply and demand. It crashed in the 2008 financial crisis along with everything else.

Still, central banks have slowed their purchases this year from record levels of 2018 and 2019, in part because Russia halted purchases in April.We have adapted our strategic approach to create a dedicated exposure to gold for clients.

The gold prices used in this table and chart are supplied by FastMarkets. World Gold Council; *Gold is the sum of the above-ground stock of bars and coins, ETPs and official sector (or "Financial Gold"). Gold has surged by 20% since the depths of the pandemic, and some analysts reckon it could hit $2,000 for the first time ever.

So whilst monthly charts are a broad brush our man or woman from Mars might conclude that a higher Dollar has led to a higher Gold price.If we stay with currencies those from my country the UK have done much better out of Gold.

It was also covered in my opinion by Arthur C. Clarke in 2061. One might also adjust for the growth in gold supply over time.Furthermore, low/negative real interest rates (aka financial repression), central bank credibility and general monetary disorder are all important gold price drivers that must be considered when making a case for gold.

Closed refineries and more complex logistics chains also complicated supply of gold bar and coins.However, investors should not pay too much attention to variations in gold production and supply. It has disadvantages and a limited feature set. A return to that ratio would imply a gold price of $7332 per ounce.

The rupee could plunge 16% against the dollar from 2020 levels and almost 25% from 2019 under that scenario.They are essentially making a case for Indians being long Gold although they have not put it like that.In the UK last night saw the latest in an increasingly desperate series of attempts by the UK Office for National Statistics to justify its attempt to reduce the UK RPI by around 1% per annum. We work with third parties and make use of third party cookies to make advertising messaging more relevant to you both on and off this website.At these levels, why own gold in a portfolio? The outlook for gold depends on this continued shift in balance from physical consumption to financial demand from investors. If you think gold is always a “safe haven” financial asset, think again. The New Case for Gold James Rickards.

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