Lil old @Shugard says I'm a goldie now (#896476, #889502, #917640), and maybe I am, who da fuck knows really?! (apan, like @realBitcoinDog, always tries to keep things interesting!)
...but everyone else is loving the glittering metal, it seems, with all-time high etc. Yesterday Lex in the FT had some nasty things to say about the world economy and sang the praises of gold:
The precious metal has broken through $3,000 per troy ounce, just as it breached $1,000 during the financial crisis of 2008 and $2,000 in the pandemic 12 years later. It is unlikely to lose its lustre any time soon.
The next bit, intended as a critic and ridicule, kind of sounds amazing:
Natural orders are being ripped apart as US President Donald Trump toys with ideas like modern-day colonisation, civil-service defenestration and swingeing tariffs.
YES, PLS ORANGE MAN GIVE ALL.
A broad church of buyers is doing lots of heavy lifting. Central banks, buying more than 1,000 tonnes in each of the past three years, are piling in. Those in emerging markets have long been following their wealthier peers in shovelling gold into reserves, diversifying from US dollar holdings.
not just central banks buying, but investors of all sorts, "mainly in bars and coins" AND, like bitcoin, some ETF inflows.
"Goldbugs are a jittery band but history proves them right."
Over a deck of periods — one, three or 10 years say — gold returns have trumped those of other asset classes. Bullion has delivered annual returns of 8 per cent since the gold standard was abandoned in 1971, says the World Gold Council.
Uh-hu. Now do money supply: you ain't persuasive, madam!
non-paywalled here:
https://archive.md/IKcpl