Posted on 12/03/2023 6:00:48 PM PST by CFW
Gold prices notched a record high for a second day in a row Monday — but the global rush for bullion is not about to stop anytime soon.
Gold prices are on course to hit fresh highs next year and are expected to remain above $2,000 levels, buoyed by geopolitical uncertainty, a likely weaker U.S. dollar and possible interest rate cuts.
Prices of the yellow metal have risen for two consecutive months with the Israel-Palestinian conflict boosting demand for the safe-haven asset, while expectations of interest rate cuts have provided further support.
“We believe the main factors buoying gold in 2024 will be interest rate cuts by the U.S. Fed, a weaker U.S. dollar and high levels of geopolitical tension,” BMI, a Fitch Solutions research unit, said in a recent note.
Gold tends to perform well during periods of economic and geopolitical uncertainty due to its status as a reliable store of value.
(Excerpt) Read more at cnbc.com ...
"Gold Spikes To Record High Over $2,130, Bitcoin Soars Above $40,000 As Market Calls Powell's Bluff"
https://www.cnbc.com/2023/12/04/gold-prices-set-for-new-highs-amid-economic-geopolitical-uncertainty.html
https://tradingeconomics.com/commodity/gold
Here is a graph showing the spike earlier this evening when gold went above $2100.00. It actually went as high as $2134 per oz before falling back to around $2085.00. Tomorrow should be an interesting trading day.
I wish I had gold rather than silver.
“I wish I had gold rather than silver.”
Hey, silver is not doing too bad either!
https://tradingeconomics.com/commodity/silver
Cryptos, gold, silver and two large wars. With the Iran funded Houthi pestilence firing anti-ship missiles at the US Navy and commercial freighters. Warmongers Russia and Iran are two peas in a pod. Russia has limited goals, while Iran is making chaos all over the Middle East.
Gold will kill the FED. Silver will BURY it.
Bitcoin spiked also.
I’m betting big on a spike in Dutch Tulip Bulbs. They did it once before, they can do it again.
“Bitcoin spiked also.”
I saw that as well. I suspect the volatile market that is soon to come is going to make some people a lot of money. And, there are going to be people losing their shirts (along with everything else).
The economic “experts” and politicians in the Biden administration has been telling people that everything is rosy for so long (best economy ever!) that some are going to be surprised when that is suddenly not the case.
The “Robinhood” investors have never seen a long-term down market. The Nasdaq (techs) has been going up for so long they expect it to continue to do so. Of course, we could have a “melt-up” with investors jumping into buying stocks based upon investor sentiment and government lies rather than actual improvements in the economy. However, given the fundamentals, I’m thinking that is not going to be the case.
The final trading month of the year is going to be interesting to watch.
“I’m betting big on a spike in Dutch Tulip Bulbs. They did it once before, they can do it again.”
Nah! I’m betting on daffodils this time around! Tulips are such a “boomer” thing to have.
If YOU would like to be on a Gold & Silver PING LIST, please pm me.
The Gold & Silver Ping List covers the following:
Everything Gold & Silver
Stock market investments in mining companies,
etc.
You will do well to check what the price of Gold has been in Venezuela, Brazil, Argentina…….Banana Republics you might say…….
Well I do own some Barricks Gold stock (NYSE symbol GOLD). It pays dividends as well.
By any sane economic metrics gold should be about $9k an ounce by now. Maybe more. It is remarkable they’ve been able to keep a lid on it for as long as they have.
"Queen of Night" tulip bulbs currently $7.49 a piece.
“Well I do own some Barricks Gold stock (NYSE symbol GOLD). It pays dividends as well.”
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LOL! We have a “few” shares of GOLD as well. We happened to buy it around the first of October when it announced a mine expansion. We lucked up and got in at just a little over its 52 week low. It has been doing quite well lately. Nice dividend of .10 considering it is a lower priced stock.
I think it’s good to have both.
Good, my 1oz 22ct gold bracelet and chains from Kuwait I got for $300 an oz back in the day is worth sumpthin, yay
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