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"The primary reason is straightforward: Gold is bought and sold based on a narrative that has turned out to be patently untrue. As we move further away from the great credit crisis of 2008-09, the global financial system has stabilized, undercutting the appeal of gold as a hedge against catastrophe. The US economy is improving, as are those of many other countries."The wild inflation and collapse of the US Dollar that was going to lead to the demise of civilization and make gold an essential for investors? None of that has happened. Instead the world has low inflation or even deflation and the Dollar, the world's reserve currency, has risen to multiyear highs."
"Gold is bought and sold based on a narrative that has turned out to be patently untrue."
"The global financial system has stabilized, undercutting the appeal of gold as a hedge against catastrophe."
"The wild inflation and collapse of the US Dollar that was going to lead to the demise of civilization and make gold an essential for investors? None of that has happened."