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Craig Hemke at Sprott Money: Gold's rise is more than a war premium
By Craig Hemke
Sprott Money, Toronto
Tuesday, March 1, 2022
As anyone who has watched the precious metals for any amount of time will tell you, price rallies on geopolitical concerns rarely hold. The same might be true today. However, do not make the mistake of thinking that the current rally in gold and silver is based solely upon geopolitics. There's a lot more going on at present, and those drivers will persist regardless of the outcome of the Ukraine crisis.
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So let's just take a few minutes today to consider what is driving prices and then assess where prices may head from here. Yes, the crisis in Ukraine is building a "war premium" into the price of Comex gold, and this premium will persist for as long as the conflict continues.
But the long-term effects of the hostilities are myriad and currently unmeasurable. Yes, the exclusion of Russia from the SWIFT system that we wrote about last week will have long-lasting deleterious impacts on the U.S. dollar. But it's more than that. ...
... For the remainder of the analysis:
https://www.sprottmoney.com/blog/COMEX-Gold-and-Silver-Prices-Craig-Hemke-March-01-2022
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