Gold needs to break decisively about this price to confirm it has bottomed.

Gold
June 30 (King World News) – Ole Hansen, Head of Commodity Strategy at SaxoBank:  The cost of leveraged equity positions is surging:  Gold’s rebound above $4,000 appears to reflect a combination of short covering after the break below last week’s low at $3,960 failed to attract sustained follow-through selling, together with some bottom fishing as energy prices continue to ease amid the risk of a short-term glut helping to ease inflation worries further.

KING WORLD NEWS NOTE: Gold Needs To Break Decisively Above The Red Downtrend Line ($4,250) To Confirm Bottom

While the recovery may increase confidence in holding longs, prices first need to break above USD 4,100 before it is reasonable to consider that a low may have been established…

Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.

The Truth About Gold
Jeroen Blokland:  Gold is not about cash flows, transactions, or valuations.

It is about trust derived from scarcity. For centuries, gold has been at the core of many monetary systems, providing stability and trust.

Time and again, policymakers have put that trust to the test by structurally hollowing out the store of value required to keep those systems afloat. From Roman emperors and English kings to the heavily indebted, rapidly aging societies we see today.

Today, only about one-quarter of the unprecedented amount of fiat money in circulation is backed by the value of all the gold above ground. So, not just the gold held by central banks, but all gold. In fact, central banks together own less than one-fifth of all the gold ever mined.

For centuries, the share of gold backing our money ranged between 60% and 100%, the latter when gold coins literally were money. But now that figure stands at just 25%.

KING WORLD NEWS NOTE: Gold Backing Is Only 25% Today, vs 60%–100%

Meanwhile, an ever-growing share of newly created money is being used to finance debt, which has risen to a staggering $350 trillion. That is more than three times global GDP and more than eleven times the current market value of all the gold in the world.

Many people, including mainstream economists, central bankers, policymakers, and investors, fully acknowledge that both money and debt have reached questionable levels.

Yet very few ask what has historically been required to prevent the financial system from collapsing, or which store of value new monetary systems ultimately relied upon to replace the old ones.

And if you think this is merely a story about the past, take a close look at what China is doing. Massive debt accumulation, unprecedented money creation, and at the same time, buying enormous amounts of gold.

Part of The Great Rebalancing is a massive revaluation of gold relative to fiat currency to ensure that our debt-driven economies do not succumb to the weight of their own debt.

Perfect!
Graddhy out of Sweden:  A perfect, 25-year, bullish falling wedge breakout, and backtest.

KING WORLD NEWS NOTE: Commodities Are Soon Going To Be The Only Game In Town

Been posting these historical ratio chart turns in real-time. 

The commodities bull is end of rainbow stuff.  

Down the road, commodities will be the only game in town.

Vital to follow the right people.

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