Gold has broken the neckline of the downtrend for the first time in years. What is it telling us?
That policy makers will go deep into negative yield?
That inflation is coming back?
That the US$ about to sell off?
“The main message is that economic confidence and confidence in policy makers are faltering. The precise consequences (price inflation, ever crazier policies, cross-currency rates) are actually a side show.”
Mike “Mish” Shedlock