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Alasdair Macleod: First gold, then markets migrating East
By Alasdair Macleod
GoldMoney, Toronto
Friday, July 10, 2026
Goodbye to Western paper. Moving in plain sight, China has set up a new market in Hong Kong ready to take over from London and New York when the dollar dies.
First, let's look briefly at what happened to gold in the 1973-1974 OPEC crisis.
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Note that gold drifted lower when the oil price was hiked by 66% by OPEC led by Sheik Yamani. Having traded down to $90 in late-November, it then began to rise before Yamani hiked the price even further in early-January 1974 to $11.65. Gold went on to double by the year-end.
If this was repeated today, we would see gold nearly doubling to $7,750 in less than four months before going on to over $8,000 in just twelve.
Food for thought, not a forecast. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/first-gold-then-markets-migrating-east
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