Gold caps its best year in a decade with the dollar on the ropes
“Gold posted the biggest annual advance in a decade after a tumultuous year, with gains this month aided by the dollar’s decline to the lowest since April 2018.”
USAGOLD note: The dollar was one factor. There were others as we are all too aware. As Spence points out, much will depend on Fed policy and the Fed has promised easy money at least through 2021. One of the facts of life driven home with ultimate clarity in 2020 is that it is nearly impossible to know what will govern market action in the future. Just when you think you’ve got it nailed, something happens to give humility a seat at the table …… Onward, clients and friends. May the year to come be considerably more palatable than the one just left behind.