AFR Gold Headline - Are we there yet ?

This is the headline... Gold has crashed back to earth. Here’s what to do next

https://www.afr.com/markets/commodities/gold-has-crashed-back-to-earth-here-s-what-to-do-next-20260625-p609yf

With some luck, we are getting closer to the wash out. Feels like funds have cut their exposure already. The smaller end of town got thrown out as well.

Some quotes from the article:

Some major investors are increasingly focusing on copper and rare earths after trimming their exposure to the precious metal, while others have shifted away from the speculative end of the ASX gold market toward more established miners.

“The gold price has taken an absolute beating,” he said. “Now is not the time to be going for more speculative gold names, or those that are relatively high cost.”

“A rebound in gold prices is now likely contingent on US inflation and labour market data weakening further,” Dhar said. “Our view that the Fed needs to raise the Fed Funds rate by 75 basis points from December, which the market is underpricing, [and] suggests further headwinds to gold futures.”

Lowell Resources chief investment officer John Forwood has shifted his portfolio to other metals amid the gold plunge, with total exposure to the precious metal dropping to about 45 per cent this month, down from as high as 54 per cent in January.

But Squire has, like Forwood, reduced his overall gold exposure from about 45 per cent earlier this year to between 30 per cent and 35 per cent, due to a combination of selling and share price falls.

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I don't have anything particularly clever to say.... Kevin Warsh was just appointed... Of course, he has to show he is hawkish.... Question is when push comes to shove, would he push rates higher ? I very much doubt if he is the next Paul Volcker..... Let' see.