IPFS News Link • Gold and Silver
Clueless Gold Writers Keep At It
• https://www.thestreet.com, MishGold and the Recovery
Put Wall Street Journal writer James Mackintosh firmly in the clueless camp.
Mackintosh says Gold Will Need More Bad News to Keep Prospering.
If economic recovery continues, expect gold to suffer: There will be less need for insurance, fewer worries about the dollar's reserve status and lower prospects of more Fed action. Of course, if the Fed lets inflation rip gold might ultimately rise a lot more—but for now, at least, investors see little chance of this.
With the US dollar index at 93, where it is today, gold was at $2,000 and $1400 and $320.
Something else is going on and recoveries have nothing to do with it.
Also see my July 27 article, Nonsense from the WSJ on Gold vs the Dollar
Reserve Currency?
Mackintosh does get some things right. He does not expect the dollar is about to lose its status as the world's anchor currency, and neither do I for reasons explained many times.
Faith in Central Banks
It is lack of faith in central banks propelling the dollar. We had three major recoveries in 2000, in 2009 and in 2020 with gold rising in each.