The Covid Delta Variant seems to be picking up steam, we are seeing “flight to safety” assets other than Treasuries rising.
Gold and Silver experienced some serious corrections last week, perhaps because things were looking up. Then we saw Anthony Fauci scaring everyone about Covid … again. So, there is enormous uncertainty about how this will play out. In other words, ALARM!
Bitcoin and Ethereum have been climbing since Gold and Silver corrected last week. But both are up this week, particularly Gold.
The US Dollar is down slightly since the same time last year and M2 Money Stock growth has slowed.
Here is a chart showing another fear factor: the rise of the Covid Delta Variant. Deaths are only 1.7% of confirmed cases (if we believe the actual cause of death).