Finbold/Dino Kurbegovic/8-5-2022
“The limited production of gold vs. unlimited supply of fiat currency is a top reason the metal appreciates over time, and the extended consolidation between $1,700-$2,000 an ounce appears as base building. We see the metal more likely to breach the upper end of the range than sustain below.” – Mike McGlone, Bloomberg Intelligence
USAGOLD note: McGlone sees gold as “caged” at these levels and about to escape. The run-up in early 2022, he says, was just the beginning.
