Does gold still have plenty of potential?

Gold last traded at $1,942 an ounce. Silver at $26.85 an ounce.

NEWS SUMMARY: Precious metal prices eased Tuesday on mild profit-taking and a firmer dollar. U.S. stocks plunged led by technology shares following their worst sell-off in more than five months.

  KITCO---According to the World Gold Council, the latest leg of gold's 2020 bull run has come too fast, but gold has still potential for further upside. According to the WGC, the combination of high uncertainty, easy monetary policy, very low interest rates, positive price momentum, the depreciation of the U.S. dollar, and fears of higher inflation fueled record flows of 734 tons into gold-backed ETFs in the first half of the year and the gold's price appreciation: 'Central banks have aggressively cut interest rates, often in combination with quantitative easing and other non-traditional policy measures. Governments have also approved massive rescue packages to support their local economies. And much more may be needed. These initiatives have increased concerns that easy money, rather than fundamentals, is fueling the stock market rally and that all the extra money being pumped into the system may result in very high inflation or, at the very least, currency debasements.' The price of gold more than doubled amid the Great Recession, while it has increased by just under 30 percent since the Covid-19 pandemic....Purchasing gold today is not only a great way of maintaining purchasing power over time, but 'there is the potential both to preserve wealth and deliver outperformance by investing in gold.'"

Murphy's Law Is Fed's Law, and Everything Is Wrong -Snider/Real Clear Markets
"As it turns out, there actually was a Murphy. His now ubiquitous American idiom, Murphy's Law, is well-known to everyone: whatever can go wrong, will go wrong....'If that guy has any way of making a mistake, he will,' Murphy snapped... the legend was born....The original Murphy's Law was a hope-filled expression of harsh reality being surmounted by retail-level human genius....Money printing always leads to inflation, yet the reckless money printing the Federal Reserve and other modern central banks are alleged to have conducted never leads to any. Have the most basic and fundamental of economic properties and relationships so drastically changed, and that drastic change just coincidentally timed to a global monetary crisis twelve years ago, or are central bankers and Economists bending over backwards bending curves, openly trying too hard to evade recognition of the most logical and straightforward explanation? The answer is obvious....The original failure, the Fed's modern original sin it must forever cover up, is money itself. When central bankers and Economists realized they could no longer define it, and this was more than a half century ago, they came up with what they believed was progress....Nowadays, detached entirely from any accountability whatsoever, we are supposed to call Ben Bernanke, Janet Yellen, and Jay Powell heroes. For what? From the very start, these are all acts of intellectual cowardice, a bankrupt foundation so perverse it is an embarrassment to science itself; becoming ever more so with each additional stab at everything but the truth. Anything other than that. They've perverted Murphy's Law into a third version, a specific version. Fed's Law is now this: monetary policy will never go wrong, so everything else will. As it has. And it is."