The chairman of the All-Indian Gem and Jewelry Domestic Council noted that about 80% of the country is on lockdown, and while some sales will take place online, they will again be impacted as in the prior year.
Inflation hysteria? Our premise is it is monetary inflation we have to worry about not price inflation. April inflation numbers were higher than expected fueling the hysteria.
Sell off in bitcoin and crypto currencies suggest gold and silver will now be able to break past key resistances of $1878 and $28.00. There will be a very quick rise on a break of these resistances.
Leading the charge is a surge of fundamentally bullish factors such as plunging real interest rates, dovish Fed policy, and surging inflation. The next target for price remains $2000 by sometime in early July..
