The View From The Montana Log-Cabin As Gold Continues To Hold As Central Banks Do Likewise
By Nigel Somerville | Sunday 24 September 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Gold closed the week at $1925 – almost bang on last week’s close of $1924 after a week during which the Fed and the useless Andrew Bailey’s Bank of England finally blinked away from the rear-view mirror for a moment and held interest rates. Are we now finally at the top of the rate-hiking cycle? I wouldn’t like to bet on it, but at least we have a pause.
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