The continuous surge in gold prices has been making headlines and surprising everyone. Gold prices have been on the rise, experiencing an upward trajectory in recent months, with a remarkable surge of approximately 29 percent since October. This week, fueled by robust US inflation data and speculation about a potential rate cut by the US Federal Reserve, gold prices soared to unprecedented levels in domestic and international markets, surpassing $2,400 per ounce to reach an all-time high on Friday.
Despite the remarkable increase in gold prices, the retail crowd appears uninterested, as evidenced by minimal activity in ETFs and other paper funds. Rafi Farber speculates the underlying reasons for this phenomenon, suggesting that it might indicate a larger conflict, such as a "banker war" or a clash among family offices. Examining a chart depicting gold relative to the CRB index, Rafi offers a long-term perspective from 1990 onwards. Initially, there was significant stability in gold's real purchasing power relative to other commodities. However, a notable shift occurred in 2006, marking the onset of a bull market phase that endured until 2016.
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Credit: Arcadia Economics
Rafi Farber: We're Rounding the Corner to the End Game Sprint
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