fed and gold

And China arrived and defeated the Fed

The Fed Can’t Print Gold

Bank of America Global Research | The size of major central bank balance sheets has been stable at 21 to 28% of GDP in the past decade just like the gold price. As central banks and governments double their balance sheets and fiscal deficits we up our 18m gold target from $2000 to $3000/oz. Still, a strong USD backdrop, falling equity market volatility, and weak jewelry demand in India and China may remain headwinds.