You are here
Lawrie Williams: Gold fulfills expectations in the U.K. and elsewhere if not the U.S.
By Lawrie Williams
Tuesday, September 27, 2022
If one reads all the headlines about gold, one could be forgiven for thinking that 2022 has been a pretty disastrous year for those banking on the yellow metal to preserve their wealth.
This is indeed the case for gold holders in the United States, here the gold price has declined around 9%, although that is less than half that seen in most U.S. equities since the beginning of the year -- even more in the NASDAQ stocks. But in the case of UK gold holders and holdings valued in pounds sterling, it has been a very different story altogether due to the fall in value of the pound against the dollar so far this year.
... Dispatch continues below ...
... ADVERTISEMENT ...
Buy, Sell, or Store Precious Metals with Money Metals Exchange
Money Metals Exchange, a national bullion dealer recently named "Best Overall" by Investopedia.com --
-- is a great low-cost source for precious metals coins, rounds, and bars. Money Metals also pays handsomely when you wish to sell your precious metals.
Shop online with Money Metals Exchange here --
-- or by calling 1-800-800-1865.
Meanwhile, Money Metals Depository will store your precious metals in a segregated account at low cost:
This has been a similar experience in other areas of the world where local currencies have been in strong decline against their U.S. counterpart.
In pound sterling terms, the gold price has actually appreciated by no less than 13% while the FTSE all-share index for comparison has declined by around 10% over the same period.
With the Bank of England following the U.S. Federal Reserve with an aggressive interest rate raising policy to fight inflation, and commenting that the UK economy is probably already in at least a mild recession, one can anticipate further equity price slippage, while the gold price can probably still hold its own, making it a continuingly good wealth protection choice for investors.
Of course the UK is not the only country where the gold price has been appreciating in the local currency due to the U.S. dollar's strength. There are many others.
We have already reported on the resultant strength of the Australian gold mining sector during the most recent quarter due to the almost A$42 per ounce gold price rise during Q2 resulting from a 6-cent movement in the exchange rate between the U.S. and Australian dollars. With producer costs mostly in Australian dollars the miners mostly saw some good cost benefits. Although these would inevitably close over time, the short term advantages will have been beneficial. ...
... For the remainder of the commentary:
* * *
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 12-15, 2022
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
Buyers can compose their case by choosing as many as four varietals from the list here:
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at: email@example.com
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at firstname.lastname@example.org.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: