ZeroHedge-Bloomberg/Edde van der Walt/7-13-2020
“Even forgiving that failure, it’s a blunt instrument compared with other forms of portfolio insurance. Yet the price of gold has been chased to eight-year highs above $1,800/oz. Investors in exchange-traded funds built a stockpile large enough to supply global gold demand for three quarters of a year. And luminaries including Paul Singer, David Einhorn, and Crispin Odey have told backers they’re bullish.”
USAGOLD note: We referenced this report in the DMR earlier today and repost it here for those who may have missed it.
“The fallout from coronavirus has provoked fears among the world’s wealthy, with the majority planning to curtail travel and move closer to family in a world they see permanently altered by the pandemic. More than half of respondents in a survey of wealthy investors by UBS Group AG said they feared not having enough liquidity in the event of another pandemic, while a similar percentage expressed worry about leaving sufficient money to their heirs.”
“A resurgent coronavirus pandemic in the United States and the prospect of improving growth abroad are souring some investors on the dollar, threatening a years-long rally in the currency. … A decline in the dollar earlier this week set off a technical formation known as a ‘Death Cross,’ which occurs when the 50-day moving average crosses below the 200-day moving average, according to analysts at BofA Global Research.”
