This was a roller coaster week for the metals that rallied to their highs of 2018 before turning back into the red. Mario Draghi hinted at the end of QE in Europe which has markets spooked. Which could certainly explain the push back on bullion late week.
The new normal is not new and not normal. The economy is great so long as you just don’t look. Investors are forced to search for yield in increasingly risky areas like stocks and real estate. The very wealthy are looking to luxury investments as outlined in a recent article from RT.com https://www.rt.com/business/421604-most-profitable-luxury-investments/
Guildhall has just acquired several Argyle pink diamonds which we could not pass up. These are investments that have continued to rise in the face of several market panics. As the panel discusses they are simply too rare and too in demand.
One of our favourite authors Charles Hugh Smith penned another great article titled “Here We Go Again: Our Double Bubble Economy”. In it he discusses the echoing housing bubble and stock market bubbles, and how the markets of today look very much like the bubbles of the recent past.