Daily Gold Market Report

Gold takes a breather in quiet, uneventful trading
Morris says we’ve had  four compelling times to buy gold in 100 years, and this is one of them

(USAGOLD – 3/29/2023) – Gold is taking a breather this morning in quiet, uneventful trading. It is down $6 at $1970. Silver is down 11¢ at $23.27. Over the past month, it is up 7.7% amidst lagging confidence about the financial system’s stability. Silver is up 11.2% over the same period. Byte Tree’s Charlie Morris says, “the next few years will be tricky for investors, and gold will have an important role to play in portfolios.”

“Over the past 100 years,” he says in a recent advisory, “there have been four compelling times to buy gold. In 1929 it proved to be a saviour ahead of the great depression. Then in 1969, it preceded the great inflation of the 1970s. In 2000, it cemented itself as the most liquid alternative asset of the 21st century in anticipation of the credit crisis. And just recently, gold is signaling strength ahead of what looks to be an emerging sovereign debt crisis.”

Gold price
(!834 to present, log scale)

Chart courtesy of TradingView.com • • • Click to enlarge