“The fundamental narrative behind this [downward] move [in gold] is wrong. What’s giving the shorts the motivation to sell is a number of false beliefs. One, that the US economy is recovering. It’s not. Two, that inflation isn’t a problem. But it is. And three, that the Fed’s about to tighten. When they’re not! So I think everything the market is anticipating is wrong. And therefore their expectations of a lower gold price are based on assumptions that are all wrong. When they figure that out…I think the price goes way up.”
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