Gold vs. Covid? Useless. Perfect.
"Everyone has skipped [to the end of] our story and read the conclusion."
"At this stage [with bond prices up, gold down] those who missed gold's rally from 2002 would have the solace of schadenfreude when in reality they should be buying the stuff and selling their bonds."What delicious irony: deflationists and inflationists could both claim to be right. But how many will have profited?"
"Central banks have printed record amounts of money to save financiers and allow indebted governments to keep spending. Inflation is inevitable."If all that sounds familiar, it's because those were the views of buyers of gold and other inflation protection in 2009. They were wrong then, but they're at it again – and this time they might be right."
The financial oil paper continues to find support above $20 a barrel. But the physical market remains in free fall. Note that Platts assessed yesterday Dated Brent at $17.79 a barrel, almost $5 below ICE Brent futures | #OOTT #OilPriceWar #covid19
— Javier Blas (@JavierBlas) March 31, 2020
"In the economic slump that's coming, give me useless stuff, not useful things!"