Reality check: Europe’s ‘miracle recovery’ narrative

GoldEagle/Claudio Grass

Repost from 4-21-2021

“Meanwhile, gold prices appear to have weakened over the last few months, causing many analysts and commentators to declare that the precious metal is no longer a safe haven or indeed relevant at all in a modern portfolio. This view is so obviously and dangerously misguided that it’s frankly surprising it is getting any traction at all.”

USAGOLD note:  Mr. Grass seems to be in a dark mood these days. Along with offering the above rationale for gold being stuck in its current range, he takes mainstream commentators to task for a “cognitive dissonance” on Europe’s future and celebrating “a recovery during a third round of total lockdowns, closed shops, travel bans, and millions out of work.” He sees an inflationary outcome – a “classic set-up,” he says – wherein stock investors bolt for exits too late and begin buying precious metals after they’ve already begun to skyrocket.

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