Gold flashes a warning signal for currency markets
“Gold is flashing a bright and shiny warning signal when it comes to the currency markets. It is telling us that the value of currencies is declining, and the price action is a continuation of a trend that began near the turn of the century. The currency markets validate the beginning of the next leg of the bull market in the market that is part currency and part commodity; a hybrid, unlike no other asset the world has ever seen.”
USAGOLD note: We agree with Hecht on his primary point that the devaluation of currencies on a long-term basis is also the foundation for long-term demand for gold and a strong argument for an extension of gold’s secular bull market. In fact, we covered the depreciation of a number of currencies against gold over just the past year in a recent Daily Market Report.
Repost from 7-11-2019