Gold Needs a Fed Pivot

The stock market is a casualty in the Fed’s fight against inflation. Will the entire economy follow? If so, will the Fed make a dovish pivot?

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When the Dip Turns to a Waterfall

Individual investors are relentlessly “buying the dip,” yet stocks continue to tumble. Maybe it’s time to abandon the risky bets and get into something real?

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History of Hard Money: Japan’s Lost Decade

Throughout the 1980s, Japan’s economy soared past the rest of the world. The growth that once earned the envy of investors and economists now stands as a dire warning against debt, speculation, and easy money.

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History of Hard Money: The Roman Empire

When Matthew wrote his gospel in 85 AD, one pure silver Denarius covered the daily wages of a skilled Roman craftsman. Three hundred years later, the Denarius had been reduced to a worthless scrap of copper alongside a crumbled empire.

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A beautiful bounce, but will gold continue?

As the gold market approaches a period of seasonal strength, investors will be watching for a higher high.

Key Takeaways:

  • Gold has jumped back up to its $1,800 trading channel after putting in a higher low at $1,690.
  • Historically, September has been gold’s strongest month in terms of price performance. Next month could follow suit.
  • The U.S. Dollar continues to strengthen against other currencies, making gold more expensive for foreign investors and threatening gold’s rally.
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Gold vs. Money Supply

The price of gold has tracked the rapid expansion of money supply throughout history, both in the United States and globally. As M2 continues its long-term parabolic growth, so will gold.

Key Takeaways:

  • Gold found a new ceiling around $1,790 after a solid $100 bounce.
  • The ratio between gold and M2 money supply suggests that gold’s long-term bull market has further to climb.
  • The velocity of M2 money supply is sitting at all-time lows. A trend reversal could mean rapid inflation, and a flood of money moving into gold.
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