There’s endless speculation about the relentless rise in gold prices. There’s talk that this is foreign central banks who are buying gold to diversify out of the Dollar. Then there’s all the Dollar bears who say the gold rally is about an exodus from the Dollar as markets turn their back on the US and chaotic Trump policies. Some also link the gold rally to the global rise in government debt levels, with mounting anxiety in markets that higher inflation and currency debasement are inevitable. Today’s post reviews each of these hypotheses. The only one that’s consistent with price action is the last one. Markets look ... (full story)