Why is everyone buying gold?

New York Times/Ruchir Sharma

photo of gold and silver plated roses“A recent survey of 1,000 people found that one in six Americans bought gold or other precious metals in the last three months, and about one in four were seriously thinking about it. On Robinhood, the popular online trading platform, the number of users holding two of its largest gold funds has tripled since January. It seems we’re all gold bugs now.”

USAGOLD note:  A gilding of the rose, a twist of a phrase and the counterpoint to Nixon’s declaration upon departure from the gold standard almost fifty years ago that “we are all Keynesians now” …… We might be entering a new era for gold (and silver) – if Sharma is correct – but we most certainly are not departing from Keynesian doctrine.

Image courtesy of Degussa Goldhandel AG

Repost from 8-11-2020

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