Loading ...March 24 – Financial Times (Neil Hume and Henry Sanderson): “Gold continued to push higher on Tuesday as a recent wave of selling dried up and Goldman Sachs told its clients the time had come to buy the ‘currency of last resort’. Like other asset classes, gold was hit hard in the recent scramble for US dollars, falling more than 12% from its early March peak… The yellow metal started to see a resurgence on Monday, rising by more than 4% after the Federal Reserve said it would buy unlimited amounts of government bonds and the US dollar fell… ‘We have long argued that gold is the currency of last resort, acting as a hedge against currency debasement when policymakers act to accommodate shocks such as the one being experienced now,’ said Jeffrey Currie, head of commodities at the Wall Street bank.”
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