GoldMoney Report
The Fed Never Raises Interest Rates High Enough
For Real Rates To Recover To Previous Levels
"Inverted Asymmetry" In Gold Prices
GoldMoney's Josh Crumb & Stefan Weiler 16 page report .. "Using our proprietary REAL RATE, ENERGY PROOF OF VALUE- model as a guide, we find that, despite an already impressive year to date performance: 1) the gold price has less downside risk from current levels than commonly perceived, with skewed upside risk; 2) market participants often wrongly analyze gold as a ‘flow commodity’ and appear overly focused on central bank guidance of nominal rate paths – just one of three important metrics – and therefore still misunderstand the key drivers of this ongoing “money stock” rerating; 3) given current inflation and real interest rate expectations, data and policy surprises present much more upside than downside risk ..."
LINK HERE to the report
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