Despite the Federal Reserve adding another $2 billion in assets to its balance sheet since August of 2020 (even including their quantitative tightening over the past year), the gold price is still about $150 lower than the peak it reached back then. Which has left many market participants wondering what it will actually take for the gold price to see a significant move higher.
Of course in that time period we’ve also witnessed a new war, turbulence in the US banking sector, a fight over the debt ceiling, and now the possibility of the BRICS nations moving towards some type of currency medium that uses gold as a backing. So the fundamentals for a continued move higher are in place, and in today’s call Don Durrett of GoldStockData.com talks about the final piece that needs to fall in place before the gold price is released higher.
Don looks at gold’s correlation to the stock market, and the event he feels is closer to developing that will be the driving change. He talks about why that will shift investors into gold, and when the gold and silver mining stocks will start to respond. Don also comments on the speculation surrounding the BRICS nations and the potential for an announcement at next week’s meeting, and disputes the economic assessment we’re hearing from the US Treasury and White House Administration. And of course he addresses what he’s expecting in the silver market as all of these dynamics play out.
So to find out more about the latest trends in the gold, silver, and stock markets, click to watch this video now!
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