USD vs Gold PriceJust wanted to add an observation I have.
The current gold price today at $1780 and 104,5 usd index is not that much different from a couple of months ago when gold was hitting a triple bottom at about $1630 and a usd index of about 112.
Consider the usd backs off to 98.... gold is about $1880. With the ongoing pressure on the usd, one can easily visualize its value falling below 85...gold would be around $2100.
For all the other reasons mentioned in previous posts, gold is cheap TODAY. Goes along way to explain the share price at $3.30 to $3.40 range.
As the rest of the world dedollarizes, the $7T of us debt held outside of the US will come home to roost. With their current debt ($31T), that would push it $38T. Add another year of deficits and it will close in on $40T. Oh yeah and interest rates are going up to 5%.....$2T an year in interest!
History has shown debt to be the underlining problem with falling currencies....so it is today.