Comerica Wealth Management/John Lynch/2-13-2023

“While the fundamental strategies driving the move higher in gold can be disputed between its use as an inflation hedge or a safe-haven asset, the technicals are indisputable – momentum is strong, and flows are mild – suggesting further gains ahead.”

USAGOLD note: Lynch starts with John Maynard Keynes’ famous description of told as the “barbarous relic” which he says questioned its usefulness as an investment. However, Keynes’ wasn’t talking about gold as an investment in that context, but as a national asset backing the value of the currency. That said, Lynch goes on to paint of picture of gold that shows it as anything but a barbarous relic. He focuses on the longer-term trends.