Faulty Assumptions Keep Gold’s Bull Narrative Alive

From goldpriceforecast.com

Despite the BoC’s reality check, the crowd still believes lower interest rates are on the horizon. As the Bank of Canada (BoC) upped the ante on Jun. 7, another rate hike materialized when the crowd assumed the race was over. Moreover, the central bank warned that more hawkish surprises could be on the horizon. The official press release read: “Canada’s economy was stronger than expected in the first quarter of 2023, with GDP growth of 3.1%. Consumption growth was surprisingly strong and broad-based, even after accounting for the boost from population gains. Demand for services continued to rebound. In ... (full story)