Bloomberg/Ranjeetha Pakiam/1-23-2022
“The jump comes before this week’s pivotal Federal Reserve meeting, which economists expect will signal a March start for rate hikes. Even as the Fed gets ready to tighten, which could dampen the appeal of non-interest bearing bullion, demand for the haven is getting support from the drop in equities, U.S.-Russia tensions over Ukraine, and the plunge in Bitcoin.
USAGOLD note: Funds and institutions have been absent from the gold market over the past year and that is one of the key reasons for its choppy, weak performance. There has been a direct correlation between growth in gold ETF stockpiles and price appreciation in the past. If the trend continues, the sitting bull might be tempted to rise and make a charge ……
