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Since apparently the only assets worth owning are money-losing tech companies, old-fashioned paperweights like gold are getting the cold shoulder. The front month on gold is down about $27, and GLD has maintained a series of long-term lower highs for an extended period.
Looks like Powell won. No matter how high interest rates get cranked, and no matter how much debt the nation issues, assets just keep going higher. They’ve been doing it practically nonstop for nine months now, and even after yesterday’s latest ramp bump, and warning there may be more to come, the screen is fully green.
