The Gold Standard is a myth, as is the idea that the U.S. can keep the price of gold steady forever.
But gold’s fall is a welcome sight, with the metal selling for as little as $1.2195 an ounce on Monday, down about 8.5% from its record high in mid-June.
In fact, the price has been dropping steadily over the past few weeks, with its lowest point just days ago.
The reason for the drop is that gold has been on a downward slide, with recent events suggesting that the global economy is not ready to recover.
That is a reality that is difficult to ignore, and the Federal Reserve is no exception.
With the market’s appetite for gold waning, the central bank is now likely to take a cautious stance.
But the fact remains that there is no guarantee that gold will rebound to its highs of late.
The market’s long-term outlook is still uncertain.
In other words, gold may continue to fall until it rebounds and then, at some point, it may rise again.
What is more, the outlook for the U