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clock Created with Sketch. 29/11/22
10:42
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Originally posted by DavidW:
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I like where GSR is headed with a clear program. As I pointed out in a previous seasonal analysis of gold price, late December to early February the gold price rises. Of course there is more pressure if trade picks up given Central banks are buying gold in record amounts. If Saudi Arabia joins BRICS, the relationship with the Petro dollar weakens US currency. It was Saudi Arabia and the USA who initiated the Petro dollar which added the strength to the US currency. The BRICS members want to use gold to back their currencies. Also noted that last month the German Chancellor was in China on trade talks. Interesting times given Asia is industrializing e.g. Thailand, Indonesia etc. along with India as a powerhouse who collectively all see gold as a means of exchange for commodities as do African countries. Exchange rates will rationalize what nations are prepared to give up in unitising commodities. Afterall, fiat money (paper) is merely a promise to pay. If those promises fail or become inflated, they fail. This has to be looked at in terms of industrial power and numbers with that power now and how good those promises are. Gold will be money.
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