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Alasdair Macleod notes that both oil prices and bond yields are rising, while discussions of war circulate.
He observes that markets are responding by downplaying the risks associated with currencies. Macleod emphasizes that currency represents imaginary money, highlighting where he believes the real risk lies. He adds that China is increasing its gold holdings by selling off currencies regardless of price.
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Macleod has previously linked sharp markdowns in paper gold and silver to futures contract expiries and bullion bank strategies, as detailed in an earlier analysis. In a separate warning, he suggested gold could reach $153,000 and cited concerns about a possible U.S. dollar collapse in a prior report. These points continue to inform his outlook on currency and precious metals markets.