How many times have investors and traders heard gold as a safe investment? Many is the likely answer. As demand has increased, high inflation rates in major economies have likely inflated gold spot prices.
The spot gold price hovered at $1,884 per an ounce on January 12. As the commodity recovers ground in August and September 2022, gold spot prices are 8.3% more than they were 6 months ago. Now, the question is whether or not the rally will continue.
Experienced analysts compare gold to fiat currencies
“Gold will be around, gold will be money when the dollar and the euro and the yuan and the ringgit are mere memories” is one the quotes you might have read while browsing internet websites, searching for information on the precious metal. The person responsible for the quote is Richard Russell, author of the “Dow Theory Letters”, published in 1958.
Richard Russell was the one who called the peak of the bull markets 1946-1966 and the start of the great bull markets, which began in December 1974. His opinion may have a special significance. This blog will contain some…