Loading ...I was never really sure if we had a war premium for those conflicts in the POG. There was a blip over $2,000 when Ukraine started, but then it dropped back almost to $1,600! No, I think the long steady climb from October ’22 has been driven by world financials. The realisation that the current system is unsustainable, Chinese and Russian buying, the money printings of 2020 – 2022 coming home to roost, etc. etc. and now uncertainty about what a Trump presidency will really mean with tariffs, sanctions, DOGE etc. So I don’t think that peace will affect the POG, as I don’t think the wars, which the POG seems to regard as localised in nature, affected it in the first place.
From $1,600 to $2,700 in 27 months, and still a long way to go!