Monetary policies continue to be the dominant driver for gold’s next critical level, this according to Dan Oliver, founder of Myrmikan Capital.
“What I look at is the balance sheet of Federal Reserve,” Oliver told Kitco News. “When [government] bonds finally break down, and they will break down someday because congress is insolvent, the only thing else on the Fed’s balance sheet is of course the gold, because they said they have 8,100 tonnes of gold.”
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