…only after further, significant loss of U.S. dollar purchasing power. We are currently in the midst of the latest round of projections for new highs in the gold price. Those projections are more the result of anxious anticipation and elevated emotions rather than real fundamentals. Expectations for a reversal in Fed interest rate policy were given a boost last month with indications from Chairman Powell that there will eventually be some cuts in rates. That was all that investors needed to bid up the prices of financial assets. Two of the biggest beneficiaries were bonds and gold. (I consider gold to be a financial ... (full story)