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A Georgia Gold Rush Story: The Rise and Fall of America’s First Private Gold-Coin Mint

Put the federal government in charge of the supply of money, let it outlaw private competition and bestow a “legal tender” privilege on its own paper and coin, and its wise officials will know exactly how much money the marketplace needs.
If you believe that rubbish, I have a bridge over the river Kwai I would like to sell you.
In just the 106 years of the Federal Reserve, America’s money supply has bounced wildly up and down (mostly up), prompting such calamities as numerous recessions and one depression, unprecedented price and interest rate volatility, and a currency worth a fraction of its 1914 value.

Gold price recovers despite stronger dollar

Gold prices edged higher on Monday, recovering from a near seven-week low, as prospects of a massive US coronavirus relief aid outweighed a stronger dollar and lifted bullion’s appeal as an inflation hedge.

Spot gold advanced 0.6% to $1,838.30 per ounce by 11:30 a.m. EST, rebounding from an intraday low of $1,810.90 earlier. US gold futures were also 0.4% higher at $1,837.40 per ounce.

Meanwhile, European equities and US futures remain under pressure.

Gold investment demand remains well supported in 2021 – report

The covid-19 pandemic has raised uncertainty by compounding existing risks and creating new ones, but by the end of last year, investors were optimistic that the worst was over.

Looking ahead, investors will likely see the low interest rate environment as an opportunity to add risk assets in the hope that economic recovery is on the immediate horizon. That said, investors will likely also be navigating potential portfolio risks including ballooning budget deficits, inflationary pressures and market corrections amid already high equity valuations.

Gold price rally of 2020 crushes analyst forecasts

Gold had a monumental 2020 as bullion soared to multiple record highs throughout the year amid the economic uncertainties brought by the covid-19 pandemic, which helped to cap off its best annual performance in a decade.

During the past calendar year, gold prices traded at an average of $1,769.59/oz, well exceeding what most analysts were forecasting in mid-January.

According to the London Bullion Market Association’s (LBMA) annual precious metals forecast competition, analysts were forecasting the gold price to be $1,558.8/oz on average, an increase of 12% from the average price in 2019, but still short of the actual average price by over $200/oz.