John Rubino – Macroeconomic Data Turbulence Helping Gold, But Not So Much The Gold Stocks
John Rubino, publisher of his newsletter over at Substack, joins us outline the different macroeconomic data points contributing, along with geopolitical tensions in 2 conflict zones, to continue to underpin gold strength. However despite what we are seeing from Fed, Bank of Japan, ECB, and other central banks as it relates to fighting inflation with more monetary tightening, there are still a lot of unknowns causing many investors to take a more defensive posture in the markets. We look at how this relates to the global currencies, and if more generalist will awaken to the actual loss of purchasing power with their local currencies versus just looking at their pricing in relation to other equally-troubled fiat currencies.
This continues to bode well for the un-currency of gold, but not so much the gold stocks. However, John highlights that the larger precious metals royalty and streaming companies have held up much better over the longer term and have attractive business attributes and less risk compared to the individual PM mining companies.