Invezz/Shivam Kaushik/11-30-2022
“Mike McGlone, a Bloomberg Intelligence senior commodity strategist, believes that gold performed exactly as expected, ‘It has made news highs in the Euro and Yen this year which is indicative of the massive strength in the dollar… protecting its owners in currencies that are debasing.’ Relative to other assets, the yellow metal has performed well in the face of unprecedented rate hikes by the Federal Reserve and other leading central banks”
USAGOLD note: McGlone goes on to say that gold could break out in 2023 amid “one of the greatest macroeconomic resets in history.” The article takes note of buying activity “concentrated in the physical space” as opposed to paper gold.
