Wonder why gold is headed higher?
Take a look at how much money the Federal Reserve is printing. And how it pulls gold right along with it!
This chart above tracks the growing money supply (in black), using a broad measure of liquidity called Money of Zero Maturity. It consists of cash, and cash-like instruments such as checking deposits, money market accounts, and small-denomination time deposits.
After having grown by less than a trillion dollars a year for the previous five years, suddenly Money Supply has grown by $4 trillion in less than six months!
That’s quite a magical money machine you have there, Mr. Powell!