MoneyWeek/Dominic Frisby/6-29-2022
“That’s actually quite a telling little fact. For all the declines we’ve seen elsewhere in stocks, bonds and crypto, and the ensuing erosion of wealth, gold sits at its one-year average. In other words, it’s done what it’s supposed to: preserved its value, and preserved your capital. And that’s with the US dollar so strong.”
USAGOLD note: Frisby goes on to state that over the past year gold has done well when priced in a large cross-section of currencies – just not the dollar. He also cites a technical development noted previously here at USAGOLD – the long term cup and handle chart formation. He says it is “very bullish.” If it delivers the projected results, “it will give Goldman their target” – $2500 per ounce by year end.
