Based on the findings of our gold price framework, we have long argued that we have entered a new gold cycle. However, until now, there was always the risk that strong economic growth could allow the Fed to raise rates above what the FOMC members themselves expected was possible. As markets and the Fed itself rapidly adjust to the new reality of a slowdown in economic growth, those risks have subsided, bolstering our conviction that the next gold cycle is about to unfold. In 2018 we published a 3-part series “Gold Price Framework Vol. 2: The Energy Side of the Equation” in which we presented our revised gold price ... (full story)