RE: gold price15 Apr 2020 05:40
mining.com
Trillions flooding financial markets send gold price to 7-year high
According to Frank Holmes, CEO of US Global Investors, there is a “clear correlation” between the annual growth rate of M2 money supply in the US and gold performance. In times when money supply surged from the same period a year earlier, gold prices followed.
The last time gold touched an all-time high of $1,900 was in 2011, when the M2 money supply growth soared above 10% year-over-year. Currently, money supply growth is sitting at 12%, and it could go even higher depending on the covid-19 situation, analysts at US Global Investors said.
https://www.mining.com/trillions-flooding-financial-markets-send-gold-price-to-7-year-high/