Daily Gold Market Report

Takeaways From The 35th Denver Gold Forum Americas
Legends In The Mining Industry Discuss Where Gold is Going

(USAGOLD – 9/21/2023) Gold prices recovered some ground on Friday opening up this morning at $1,926.48, up $6.46. Silver is also positive at the open up 29 cents at $23.69. Gold prices appeared set to end the week with minimal fluctuations, despite experiencing a significant sell-off following the Federal Reserve’s policy meeting on Wednesday. The most interesting news this week was an interview out of the Denver Gold Forum.

Although the Denver Gold Forum is a predominately a gold mining conference, Danelle Cambone, from Stansberry Research, interviewed Pierre Lassonde, Frank Giustra and Robert Friedland for the Ultimate Gold Panel. The three main takeaways from this profound interview were:
1. Gold’s position in the global market, as its value has increased in various currencies worldwide including Japan, China, Turkey, Argentina, and Saudi Arabia, to name a few.
2. China’s role in the gold market, with the potential to become the dominant market in the future, leading to significant fluctuations in gold prices.
3. The digital transformation and the future of currency, including Central Bank Digital Currencies (CBDCs) and a digital gold currency that would exist outside the traditional banking system, providing users with a sense of security and autonomy.

USAGOLD Comment: The interview underscores the complexities of the global financial system, the evolving role of gold, and the potential shifts in global monetary dynamics. The panelists highlight the importance of understanding these changes and being prepared for the future implications they might have on investments and the broader economic landscape.

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