Even though it’s still early in the year, my bullish call on gold has worked out well (see 2025 High Conviction Idea: Gold). Gold has reached an all-time high in all currencies. In particular, it broke out to a new high in the Swiss Franc (CHF), which is regarded as a hard currency, and the Chinese Yuan (CNY), which is reflective of Chinese demand.
Beyond the bullish outlook on the yellow metal, here are the asset return implications.
Beyond the bullish outlook on the yellow metal, here are the asset return implications.
The full post can be found here.
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