Gold is back


BofA with the note. I agree. But the recent rise of BTC only reaffirms my view that this bear market rally is getting long in the tooth. I’m looking for a rebounding DXY for a better entry to the gold trade.

Reports of gold’s death are greatly exaggerated

Interest in gold has been muted in recent quarters compared to other asset classes,partly because rising real rates and a stronger USD have offered no incentive to increase exposure to the yellow metal. Markets are also increasingly focusing on the role metalswill play in the energy transition and gold is not one of the MIFTs (metals important for future technologies). These factors, among others, have prompted some soul-searching among market participants. However, we think calling the death of gold is premature.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.