There is a reason for that. I would go into it in detail but I would be called a conspiracy theorists and tin hat wearer. Basically in summary, the global elites run the financial system - the USD is their baby and they need that performing well to dominate world financial markets. There are less and less investment firms and institutions willing to invest in gold, even though the economics are well and truly there. They are told to invest in renewables related projects, into Li, REE etc. That’s what the US economy is transitioning to and what will be propping up their financial system in years to come. A high gold price and positive gold environment is bad for the US and USD who exited the gold standard in the 70’s.
Honestly, if it wasn’t for the uncertainty economically in the EU and most other western countries due to the Ukraine conflict, gold prices would be struggling. Add to that, BRICS countries buying up record amounts of gold and transitioning to a precious metals backed currency. The US, UK, EU etc are anti gold. The sooner people wake up to that the better, that’s why you rarely see anything positive about it in the mainstream media, you rarely have financial institutions suggesting gold exposure in portfolios. It’s why mid cap companies struggle to access decent funding deals and why you have less discoveries taking place.
There is a lot of manipulation we are up against as gold bugs but the past 12 months with the increasing influence of BRICS, we may finally be out of this manipulation pattern in the years to come imo.
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