Loading ...“However, with the passing of time, recession fear is getting stronger and that could probably give a much-needed support to gold prices, and limit the downside,” Bharti added.
Helping drive some of gold’s gains this week, the Fed was seen slowing its aggressive rate-hike pace in December, amid some signs of a U.S. economic slowdown.“
Comment:
Several unemployed people I know had a lot of “found money” in there broker accounts and bought new cars cash no loan. Wages too hi problem?
Some self employed people I know that don’t report all their extremely high income also bought expensive new cars, and when they spend money, they don’t care about the cost. They pay above sticker ruin for wage earners.
Add to that, more huge found money plumbers electricians real estate agents etc have and buy run down houses and use unreported income to fix and flip houses. On resale it’s money laundering and nice profits.
Wage price spiral? Those people never keep up with inflation unless they have high wage artificial tax absorbing jobs from government employment government grants and tax breaks for developers or environment etc etc.
If any of those people above with all their found money start looking at silver and gold for a change? Like the 1970s? PMs might be like those fang stocks.
The Fed and government were responsible for the above, not small business owners and their low paid employees, both barely getting by.
The Fed and Government better hope the peoples above dumb found stupid money keeps flowing into stocks bonds and real estate where they can keep seeing what everybody has.