"Going bananas"

Tocqueville Asset Management/John Hathaway/1-10-2019

“Many factors could lead to higher precious-metals prices, including (but not limited to) a fundamental change in investor psychology due to a bear market; loss of confidence in public policy; sweeping political change; possible loss of the dollar’s status as the world’s principal reserve currency; favorable supply-and-demand factors; and unwelcome geopolitical developments. However, these factors are speculative, debatable, hard to predict, uncertain as to timing, and might require analysis too esoteric for most to bother to tackle. That is not the case for the relationship between US debt and GDP. Here we have an easy-to-understand, highly visible metric that in our opinion makes the likelihood of much higher gold prices seem inescapable.”

USAGOLD note:  Hathaway does a good job of laying out the funamental drivers for gold in 2019.

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