Gold Tumbles Below $1800, Erases All YTD Gains
The paper price of the yellow rock just tumbled back below $1800 for the first time since early February. This is well below pre-Putin-invasion levels and Gold is now underwater for 2022.
And don’t blame the dollar’s rise. With DXY at 100, Gold has traded at $1923, $1700, $1230, $1140, & $330
As Mike Shedlock recently noted, Gold is not an inflation hedge except in extreme cases, notably hyperinflation.
The price of gold fell from $850 to $250 between 1980 and 2000 with inflation every step of the way
Join the Conversation
Subscribe
Login
0 Comments