by David Forest
Casey Research
This time last year, gold bulls were celebrating. Bullion had just broken $1,500 per ounce for the first time since 2013.
At Strategic Investor, we called that breakout. We believed relentless money creation from the Federal Reserve had to drive monetary metals higher.
At the time, the Fed balance sheet was indeed creeping higher. On December 4, 2019, we told our Strategic Investor subscribers that the Fed’s total assets had risen by about $250 billion in just over 90 days. (Current subscribers can review that here.) Here’s what the chart looked like back then: