Gold Price ‘Heading For A Fall,’ Claims Cathie Wood — ‘Great Depression’ Levels To Pull It Lower?
Cathie Wood warns that gold is "heading for a fall" after its sharp decline from recent record highs. She notes that gold’s market cap relative to the U.S. M2 money supply reached an all-time high, surpassing even the 1980 peak. Drawing parallels to the Great Depression, Wood suggests the current rally shows signs of excess and may be a bubble. On Thursday, gold fell nearly 9% from its peak, dropping to around $5,100 per ounce and erasing trillions in market value. The sell-off also impacted silver and cryptocurrencies, with Bitcoin falling below $83,000. Wood argues the current economic environment differs from past crises and believes an upturn in the dollar could "pop" the gold bubble. Analysts attribute the rapid decline to forced liquidations rather than fundamental shifts.
ccn.com01/30 11:12
