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Commodity Trade Mantra: Don’t Expect Gold Prices to Weaken Much with US Dollar Doomed

Article by Nick Giambruno in Commodity Trade Mantra

Gold has been a big winner so far in 2019. Today, gold prices are up about 27% on a year-over-year basis.

Earlier this year, I told you 2019 could be the start of the biggest gold bull market in history. I’m not talking about a typical gold bull market. This gold bull market is riding a huge, unstoppable trend: Gold is being re-monetized and is returning as money.

Easy Money

As I explained then, one of the biggest reasons is the Federal Reserve’s reversal from a policy of tightening to pumping out more easy money.

The Fed’s board members are NOT in the habit of admitting there’s ever anything wrong with the economy. Acknowledging they have no control over the situation, or that things can go off the deep end, is not an option.

But the recent rate cuts were just that – an admission of weakness. Why else would you need to cut rates if this is the “greatest economy ever,” as Trump has claimed?

The gold bulls realized this and sent gold soaring right through the psychologically significant $1,500 level last month. Gold has decisively broken out of its six-year trading range.

Room to Run

Despite its recent spectacular performance, I believe gold still has enormous upside. Remember, the price of gold is nowhere close to its all-time high.

Here’s the bottom line: The stars have aligned for gold prices. A bull market of historic proportions is on the menu and likely is already in its early innings.

That’s why it’s not too late to take advantage.

To read this article in Commodity Trade Mantra in full and view the relating charts, click here.

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Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.