Metals Minute 144: British Gold, American Wood Pellets, and Russian Gas

Metals Minute 144: British Gold, American Wood Pellets, Russian Gas

Metals Minute 144: British Gold, American Wood Pellets, and Russian Gas

September 26, 2022 94 view(s)

3/4 metals are higher this morning, following the weekend carnage in world currency markets. Overnight the British Pound has fallen to a 200-year low against the American Dollar. The closest it has come to these levels was last seen during the “Plaza Accord” in the 1980s, when world leaders sought relief from a strong dollar. The dollar appears to be peaking to the chartists among us, even without a coordinated effort to weaken it. Meanwhile, gold is up over 10%, measured in British Pounds. Hence the emphasis from the Metals Minute team is for Americans to stock up on precious metals while the dollar is strong internationally because we currently get more metal for our currency than others worldwide.



When currency tides turn, it will help propel metals we bought with strong dollars even higher when dollars weaken.

We also have a new leader elected in Italy who might be more interested in working with Russia to secure natural gas. Italy is the European nation most dependent on natural gas for electricity production.

Wood pellets are up 2-300% across Europe, most of which are produced here in the United States.


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About the Author: Bill Stack

 

Financial Analyst of 29 years and Gulf War Veteran, Bill has been helping families nationwide keep their money safe and growing since 1993. As a Certified Financial Fiduciary® and a RICP®, Bill specializes in helping protect your assets with growth potential.