Gold prices are down again in early U.S. trading Wenesday, with no significant news. Gold is trading at $2999.29, down $19.70. Silver is trading at $28.76, down 15 cents. Clem Chambers, in his article “Gold: War Or Peace?“, challenges common beliefs about gold’s role in the economy. He argues that while governments hoard gold, it’s not for everyday use or future remonetization, but rather as a reliable currency during wartime. Chambers points out a concerning chart pattern suggesting a potential significant rise in gold prices, which he interprets as a possible indicator of increasing geopolitical tensions. While considering alternative explanations like hyperinflation, Chambers leans towards a less dramatic interpretation. However, he advises readers to watch gold prices as a potential early warning sign of future conflicts.
