It’s been a rough week for gold, and Eric cuts through the noise to give you his no-nonsense take.
Plus:
• Why gold prices aren’t reflected in mining shares
• The latest news on market manipulation
• Eric’s take on Russia’s gold reserves
If you’ve been paying attention at all, Eric’s thoughts on that last topic should be no surprise.
“When you look at what Russia’s doing… The US dollar is very weak here. Wouldn’t you much rather have your money in gold? Why would you have it in US dollars when the dollar continues to weaken? And looks like it’s threatening to go much weaker? So, I can understand the logic of it. I can understand these other countries (China, Turkey) that are adding to their gold supplies. It seems to make sense in the foreign exchange world we live in. So, good for them, and I hope other countries come into the fold because it seems like the logical thing to do.”
