JPM: “Things Have Gotten Out Of Control: People Have More Confidence In Gold Than In Paper Money”

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Following the biggest one-day surge in the price of gold since 2009, it is understandable that suddenly everyone who until recently was predicting the price of gold in the triple digits, or laughably explaining why “gold is doomed” wants to talk about the “pet rock.” As we showed earlier, already Goldman and Bank of America have opined with new and upwardly mobile “price targets”, while the scramble to obtain gold in a world drowning not only in negative rates but soon, cash bans, has already been unleashed. Continue reading