Peter Spina, president and chief executive officer at GoldSeek.com, referred to the forecast as a “strong promotion from Goldman Sachs,” following sideways trading for gold in the last couple of months.
With a full U.S. economic recovery out of reach until the coronavirus pandemic is brought to heel, the Federal Reserve will use its “full range of tools” to cushion households and businesses, Fed Chair Jerome Powell told lawmakers on Wednesday.
Under the latest guidelines, the Fed said it will buy, on the secondary market, individual bonds that have remaining maturities of five years or less. Those purchases will go along with the ETFs the Fed already has been buying, which are balanced toward investment-grade indexes but also include some junk bond funds that track debt which had been investment grade before the crisis but had been downgraded after.
Silver and platinum are witnessing material buying the last several months, as represented by a number of technical indicators.
Federal Reserve money printing has reached record levels in 2020, and Congress is looking into a 4th round of stimulus to offset the coronavirus recession.
We may be close to a global monetary reset for the U.S. dollar, akin to the end of the WW2 Bretton Woods system during the early 1970s.
The lagging monetary/industrial metals may perform smartly into…