Is it a temporary blip… or the beginning of a long-term trend? That’s the key question facing consumers, investors, and retirees when it comes to inflation.
There’s no denying that inflation pressures have picked up dramatically over the past 12 months. Price spikes in commodities including copper, grains, gasoline, and lumber tell the story – as do the raging bull markets in equities and housing.
Rapidly rising prices across an array of asset classes are a symptom of excess currency creation.
As economist Milton Friedman famously noted, “Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”
Although we tend to focus more on the fundamentals here at Money Metals, the technical indicators can offer important insights. Such as right now. Many traders, investors, and momentum players will closely examine the market trend to determine if and when to enter or exit the market. A market with a strong technical foundation can launch to dizzying heights, while a market displaying weak technicals will have a tough time putting together any sustainable upside. The gold market has been primarily range bound for the last two months. The $1700 and $1800 levels have acted as support and resistance. Medium term, though, gold has been in a downtrend since its $2,100 high last August.
Although we tend to focus more on the fundamentals here at Money Metals, the technical indicators can offer important insights. Such as right now.
Many traders, investors, and momentum players will closely examine the market trend to determine if and when to enter or exit the market.
A market with a strong technical foundation can launch to dizzying heights, while a market displaying weak technicals will have a tough time putting together any sustainable upside.
The gold market has been primarily range bound for the last two months. The $1700 and $1800 levels have acted as support and resistance. Medium term, though, gold has been in a downtrend since its $2,100 high last August.
As top officials around the world convene this week for a “climate summit,” President Joe Biden’s administration is planning the most radical expansion of government’s role in the economy since FDR’s New Deal. The objective is nothing short of transitioning the entire U.S. and world economy to “clean energy” – as determined and directed by central planners. Vice President Kamala Harris vowed, “We are not going to take it slow. We are not going to take it one step at a time. We are going to take one giant leap.” First it was a Green New Deal, then it was a Great Reset. Now, apparently, it is a Giant Leap.
As top officials around the world convene this week for a “climate summit,” President Joe Biden’s administration is planning the most radical expansion of government’s role in the economy since FDR’s New Deal.
The objective is nothing short of transitioning the entire U.S. and world economy to “clean energy” – as determined and directed by central planners.
Vice President Kamala Harris vowed, “We are not going to take it slow. We are not going to take it one step at a time. We are going to take one giant leap.”
First it was a Green New Deal, then it was a Great Reset. Now, apparently, it is a Giant Leap.