I’m interested to get a sense of where you feel the gold price is going now that it’s broken below $1,700. I don’t really understand why that price point is important but some people who’s opinions I respect seem to think it is.
This is probably an over simplification but:
On the one hand I see the growing geopolitical tension and high inflation rates as factors that should support a high gold price. On the other interest rate rises should be working to depress the price.
It looks like the interest rate rises are currently winning.
I don’t hold any gold directly, all of my exposure it through junior minors. At the moment they’re being hit by a combination of decreasing gold price and high energy costs