The US reserve currency and commodities

Goehring & Rozencwajg/7-24-2023

photo of gold bars atop a $100 bill“Incredibly, by 2016 commodity prices had sold off to such an extent that they were the most radically undervalued in 120 years. The only times that came close were in 1929, 1969, and 1999. Following every prior period of radical undervaluation, commodity and natural-resource related investments dramatically outperformed, both in absolute and relative terms.”

USAGOLD note: In this in-depth study, Goehring & Rozencwajg say the coming rally and eventual overvaluation in commodities will likely be led by gold.

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