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With many asset prices trading at or near record highs, the fact that so many investors are calling for rate cuts to extend the market frenzy has some experts saying that a healthy pullback is needed to clear out the froth and bring valuations back down to earth. “What worries me, quite frankly, is that we do get into the runaway train in crypto,” he said. “There is a scenario where you can see crypto become a runaway train. It’s just self-fulfilling and it eats itself. You’re not at $100,000, but you’re at $300,000 or $400,000. It’s not my base case, but I can make that scenario up.”
“When you print as many dollars as we’re printing… the purchasing power of the underlying currency goes down,” he added. “The long-term history of governments is that they debase their currencies, and we’re in that process.” The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc.
-The gold market is holding its ground near record highs as the European Central Bank continues to hold interest rates unchanged.In a much-anticipated move the ECB said it would leave interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 4.50%, 4.75% and 4.00% respectively.The gold market is not seeing much movement in initial reaction to the latest monetary policy decision. Spot gold last traded at €2,177.
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