Loading…
Loading…
Max Baecker says the crisis behind gold's sluggish price action is not because of gold itself but instead the U.S. debt situation. He offers his key reasons backing the bull case, from central bank buying to an ever-evolving Fed structure and lasting geopolitical uncertainty.
Cryptocurrencies and precious metals shot higher, while the U.S. dollar weakened, after the Treasury Department said it planned to double its bond buybacks.
Gold prices surged to their third straight weekly gain, as concerns over U.S. debt sustainability, a weaker dollar, and the Treasury Department's surprise move to expand long-dated bond buybacks helped the precious metal break above $4,600 per ounce.
Prices of gold, silver, platinum and Bitcoin rose following the Treasury buyback announcement, while the dollar fell.
Bitcoin isn't the only asset seeing a week-long rally — gold surged on the U.S. dollar's recent weakness. In equities, retail's big round of quarterly earnings show that U.S. consumers are staying selective with their purchases.
Gold and silver are accelerating as U.S. debt, Treasury buybacks and hard-asset demand reshape markets, putting $5,000 gold and $100 silver increasingly in focus.
Billionaire investor Ray Dalio said the the debt buyback announcement this week fits into a larger pattern that could signal a looming debt crisis. Dalio recommended investors look to gold and bitcoin.
Gold and silver have largely come down from the historic highs they reached earlier this year, as gold languished between roughly $4,000 and $4,200 and silver hovered between $50 and $60 for much of the summer. For the quarter ending June 30, gold shed 16% of its value, representing its worst quarter in more than a decade.
SEC filings for SGOL aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.