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Seeking Alpha/Stuart Allsopp/8-9-2021
“With this in mind, gold’s weakness in the face of declining bond yields over recent months suggests the metal is a buy, particularly relative to industrial and agricultural commodities. While all commodities tend to benefit from rising inflation, gold tends to outperform during periods of declining interest rates and bond yields. This reflects the declining opportunity cost of holding gold as well as the tendency for falling bond yields to reflect weak economic growth which is bad news for industrial commodities.”
USAGOLD note: We referenced this report in yesterday’s DMR and reproduce it here for those who may have missed it. Allsopp says the recent washout in gold “should be considered a blessing,” and that “gold is a strong buy given the increasingly positive fundamentals.”
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