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RUSSO'S RULES
Gold-hedge haters focused on the hole, not the doughnut
The USD gold price has been on the tear these past 13 weeks. Gold prices in most other currencies have been running hot for quite a bit longer, and the list making new all-time highs this year keeps getting longer, but it’s the USD gold price that drives broader sentiment and it gets the headlines.
Fair enough too. It had been performing woefully for much of the past six years, unable to break $1,350 in any meaningful way since 2013, when it collapsed, ending what had been a pretty extraordinary...
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