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Wiping the egg from my face, I refer back to my recent post “Goodbye gold“.
That said, I did not say that gold would not go up! I argued that I could no longer discern the drivers that would trigger it, and I was confused by the rise of BTC.
That confusion is discussed today at Bloomberg:
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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.