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Gold is becoming the reserve asset of the new multipolar world – Sprott’s Paul Wong
Gold’s recent price decline reveals an important paradox: a stronger U.S. dollar can pressure gold prices in the short term while ultimately strengthening gold's long-term investment case, according to Paul Wong, managing partner and market strategist at Sprott Inc. In his latest in-depth monthly analysis of the gold market, Wong pointed out that spot gold lost $532.24 per ounce in June – nearly 12% – to finish the month at $4,008 for its fourth consecutive monthly loss. “June’s monthly decline was the largest since October 2008,” he noted. “For the quarter ended June 30, gold fell by $660.04, or ... (full story)
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The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We are reinstating the THE IRANIAN BLOCKADE, so named because it is only stopping Iran’s ships or customers from entering or leaving. All other countries will have fair and open use of the Strait. The U.S.A. will be, from this point forward, known as “THE GUARDIAN OF THE HORMUZ STRAIT,” but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World. The process and formation will begin immediately. Thank you for your attention to this matter! President DONALD J. TRUMP
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Gold prices have rebounded from June's sharp correction, but RBC Capital Markets believes investors should be prepared for further volatility before the precious metal resumes its longer-term advance. Gold (XAU/USD) traded around $4,165 after recovering more than 3% in July, following an almost 12% decline in June that briefly pushed prices below $4,000. ...
