By jan_S @ Adobe Stock
At ClaudioGrass.ch, Claudio Grass explains the year so far for precious metals, writing:
It’s been a fantastic year for physical precious metals owners and by many accounts, the best is yet to come. All the issues we’ve been warning against for years, including inflation, currency debasement and government suppression of individual financial liberty have started boiling over in a way that is so obvious, that even the most naive citizen can clearly comprehend.
Despite the efforts by politicians and institutional leaders to convince the taxpayers not to trust the evidence of their own eyes and to persuade them that everything is fine and the economy is as robust as ever, the cracks in the machine are now plain for all to see.
Consumer prices continue to be on the rise, especially in the real economy (as opposed to the heavily biased government data). The two ongoing wars continue to disrupt the global market and to fuel domestic social tensions. As for the electoral challenges we’re facing worldwide, it so far appears as though the democratic process will involve deepening preexisting rifts. As we already saw in the recent UK election, and even more blatantly in the French vote, both countries were left much more divided after the polls closed than they were before. The US election is set to bring about a lot more of the same thing. After the events that followed the last election, many shrewd observers are more focused on the reaction to the election outcome rather than the outcome itself, as an indicator of the sociopolitical stability of the country.
Of course, given all this turmoil and uncertainty, gold has been having its moment in the spotlight. It has been jumping from record high to record high and a lot of mainstream investors and analysts who were indifferent or even hostile toward the yellow metal have once again come to recognize its true value – as they always, highly predictably tend to do when confronted with the possibility of a severe crisis.
Read more here.
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