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The View From The Montana Log-Cabin As Gold Just About Holds $1700 & its almost "Disaster" Truss ahoy!

By Nigel Somerville | Sunday 4 September 2022


 


Gold closed the week at $1713 – down from last week’s $1739. However, in Sterling terms it closed at £1488 – up from last week’s £1481, reflecting the weakness of the pound and a reminder of the usefulness of Gold as an insurance policy. The Fed (and the Bank of England under the useless Andrew Bailey) are still talking tough in the face of sinking economies, in the face of rampant inflation. To my mind, they are either bluffing or are heading for massive self-inflicted recessions. In either case, holding Gold is a great insurance.

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