The Global Rush To Own Gold Has Only Just Begun

The two biggest problems for markets - Russia and inflation - both lead back to gold. Even if both issues are eventually "resolved".

Judging by the action in gold over the last two days, one might assume that rate hikes have been implemented (and worked) and that Russia and Ukraine have declared a cease-fire.

Neither of those things have happened and so (it’ll come as zero surprise to my readers) that I found the nearly $70 peak-to-trough sell off in gold over the last two days to be…