Today’s situation is much worse than the 1970s, why isn’t gold performing as expected?

Asking For A Friend
March 19 (King World News) – Simon Mikhailovich:  Why would the Fed raise rates in the middle of a war? Asking for a friend.

Why Isn’t Gold Performing As Expected?
Simon Mikhailovich:  Why isn’t gold performing as expected? Gold’s isn’t there to “perform” but to endure. It’s the only financial asset that isn’t a promise and doesn’t rely on any system. 

Why isn’t there overwhelming demand for endurance and independence? Because [the] vast majority expects everything will be OK.

The gold “narrative” may keep changing but gold itself doesn’t.

Gold’s millennial track record of protecting purchasing power speaks for itself.

Today’s Situation Much Worse Than The 1970s
Peter Schiff:  Powell claims we don’t have stagflation because today is nothing like the 1970s. In a way, he is correct. Today’s situation is nothing like the 1970s. It’s much worse, and it’s not just because CPI and unemployment numbers are rigged.

It’s About To Go From Bad To Worse
Peter Schiff:  It’s amazing how much the Fed, mainstream economists, and Wall Street misunderstand the current U.S. economy. It’s about to go from bad to worse as job losses, weakness in stocks and real estate, and exploding debt prevent the Fed from hiking interest rates as inflation soars…

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

Wild Trading In The Oil Markets
Ole Hansen, Head of Commodity Strategy at SaxoBank:  Brent crude surged to USD 113 after Iran carried out attacks on a major LNG facility in Qatar, reportedly causing “extensive damage.” The strike is one of several targeting energy infrastructure following Israeli attacks on Iran’s giant South Pars gas field, marking a clear escalation with direct implications for global energy supply. The six-month Brent spread surged to a fresh record near USD 25 highlighting the acute tightness.

Meanwhile, WTI [West Texas Intermediate] continues to trade below USD 100, with the discount to Brent widening to USD 16.5. This divergence reflects both regional dislocations and rising speculation that the Trump administration may consider measures such as an export ban to curb domestic fuel prices or potentially intervene more directly in oil markets.

Natgas Prices
Natgas prices in Europe and Asia look set to extend gains after Qatar confirmed significant damage at the Ras Laffan complex, the world’s largest LNG export hub. The site—already effectively cut off since the start of hostilities—may face a prolonged restart timeline even in the event of a ceasefire. The EU gas benchmark jumps 35% on the opening, up 128% month-to-date, underscoring the market’s sensitivity to supply disruptions from the Gulf.

Copper
Copper slumped to a December low of USD 5.44 per pound as surging energy costs raise concerns about global growth and, by extension, demand for industrial metals. The decline follows weeks of rising exchange-monitored inventories, which reached a multi-decade high and eroded investor appetite. The combination of weak fundamentals and a technical breakdown have triggered an acceleration in long liquidation.

Gold
Gold fell sharply for a second day after breaking key support below USD 5,000, with profit-taking accelerating amid a stronger dollar and a more hawkish tone from Fed Chair Jerome Powell following the latest FOMC meeting. Silver tracked the move lower but underperformed, reflecting its higher beta to both gold and the economic cycle. Concerns that elevated energy costs may weigh on global activity add further pressure, while its sensitivity to speculative positioning continues to amplify downside moves during corrections. In the current environment of extreme uncertainty, recent popular trades suffer the most, no matter what one may otherwise think about the longer-term outlook for Brent crude.

King World News note: As KWN has cautioned many times recently, gold and silver were extremely overvalued vs other commodities such as crude oil.  But the gold and silver markets are simply taking a much needed breather and consolidating historic upside gains, which is very healthy for a bull market.  So try to relax and remain patient.  And do not be affected by the day-to-day price action.  Instead, be patient and be strong in the knowledge that gold, silver, and particularly the mining stocks, will be trading at far higher levels in the future than what is being quoted today, although in the meantime there could be much more volatility to cement a final reaction low.

Gold, Silver, Oil Uranium Price Predictions
To listen to Nomi Prins discuss how high the price of oil will go during this war, where gold, silver and uranium prices are headed and much more CLICK HERE OR ON THE IMAGE BELOW.

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