AGE Gold Commentary is our regular report analyzing trends in precious metals and rare coins. We monitor domestic and international markets and extrapolate from our 30 years in metals to place current events into a hard asset perspective. View archives.
5/18/2022: Precious metals finding support
US dollar exceptionally strong - for now
Inflation continues to be red hot
Fed funds rate then and now
Gold, silver, platinum and palladium updated charts
The silver squeeze is easing - prices edging lower
$20 Liberty specials - scarce and undervalued now
With the Fed launching an aggressive monetary tightening while the economy cools and inflation rages, the risks of recession are growing.
Add in the certainty surrounding Russia's invasion of Ukraine, now in its third brutal month, and the ongoing pandemic, and you have the recipe for a serious global downturn—and a much higher gold price.
Despite the strongest dollar in 20 years and benchmark 10-year Treasury yields around 3% for the first time in 30 months, gold and silver are finding remarkably solid support. Global demand for inflation hedges and safe-haven assets will continue to underpin the gold and silver price in coming months.
In this first-time video edition of AGE Gold Commentary, I discuss in detail these market dynamics, trace the history of inflation and the Fed funds rate from the 1970s until today, and review the latest charts on precious metals and the dollar.