The first chart below is the US M2 broad money supply. (the vertical scale units are USD billions)
The bottom chart is the POG in USD.
The two charts are scaled and juxtaposed such that they are roughly aligned in time.
Compared to to the aftermath of the money-printing during the GFC, it looks like the price of gold has some catching up to do.
It's either that, or a lot of money will have to be withdrawn from the system and we know that's likely to happen don't we
Note also that the money printing during the GFC barely registers as a blip in the M2 line.
Cheers
https://tradingeconomics.com/united-states/money-supply-m2
The first chart below is the US M2 broad money supply. (the...
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