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Precious metals are going to party like it's the 1970s, reckons Albert Edwards
Albert Edwards, the notoriously bearish global strategist from Societe Generale, is bullish on precious metals and thinks that, far from resembling a classic investment bubble, the party might just be getting started. In his weekly strategy note published Wednesday, Edwards is especially focused on gold and takes particular issue with the recent warning from the Bank of International Settlements of a "double bubble risk" in the elevated prices of both global stocks and gold (GC00). Edwards is on record as explaining the booming gold price as a direct result of what he calls "fiscal incontinence" by governments ... (full story)