This, right here, is your answer, courtesy currency creation by the Federal reserve.
Posted on 08/04/2020 9:20:41 AM PDT by cba123
Gold’s up 1.51 percent, silver is up 5.33 percent
perhaps the disintegrating economy and the plan to print endless amounts of “money”?
If the Democrats manage to cheat themselves into complete control... all bets are off. I think the fear of that is causing an increase in demand.
It’s called fear. The only problem with fear is no one knows when it will end, but when it does, things change fast.
Sipow’s opus?
Some of it is an artifact of the dollar’s weakness. The dollar has come off some 8% versus the trade-weighted basket in the last three months, as the US economy’s lingering weakness is making Europe look more attractive from a growth perspective.
They’ve done so much better at controlling the spread of Covid, that they are being rewarded with more economic activity.
Since global buyers of gold buy it in their local currency, and those local currencies are appreciating on average versus the dollar, the dollar-priced ounce of gold is rising.
That’s part of it, but not all of it. There is also the doubts of some investors that the debt-fuelled binge in the US is sustainable over the long haul. Deficits have accelerated so rapidly in the recent period that some people simply want less exposure to the dollar, and gold - illiquid and thinly traded and cumbersome to store - still looks like a good hedge.
Gold is not really up. The dollar is down.
Wait until the morons in congress pass another $2 Trillion “stimulus”. The only thing that will be stimulated is gold and silver.
I know it was last week. At this point the dollar index is less relevant. The central banks around the world are inflating everything.
It’s funny—salaries are not being inflated. So it you are “just making it” without saving it hard assets....you are in trouble. Or you will be by January.
Beat me too it! +10!
The preppers were right all along.
Semantic world:
Gold is not really up. The dollar is down.
So if the dollar is down, something else must be up.
So GOLD is not up compared to the EURO? or the Yen?
Real world:
Gold is up partially because the dollar is down.
and about 5 other things, all of which are real.
Facts.. gold is up...silver is up more. silver is going to 30 and possibly 40. Bank on it. I am.
This, right here, is your answer, courtesy currency creation by the Federal reserve.
Heading to Alaska now- i wish
(Kitco News) - Gold prices are sharply higher and have hit a new record high of $2,004.30, basis October Comex futures, in midday U.S. trading Tuesday. Silver prices are also sharply up and are poised to close at a seven-year high close today. Both precious metals are continuing to see strong support from safe-haven demand amid the worrisome rise in Covid-19 infections, geopolitics and concerns about problematic price inflation in the coming months. The charts remain solidly bullish, which is also inviting the technically based traders to the long side of those markets. Importantly, there are no early warning technical signals to suggest market tops are close at hand in both metals. Thus, the path of least resistance for them will remain higher. October gold futures were last up $29.10 an ounce at $2,003.90. September Comex silver prices were last up $1.333 at $25.74 an ounce.
Did any of us not see this coming?
You "get it." Gold prices only reflect the purchasing power of the dollar. People are also scared and are rushing to "hard assets" like precious metals, real estate etc. that hold value. Chaos ahead if the radical Dems have their way.
“up...silver is up more. silver is going to 30 and possibly 40. Bank on it. I am”
I don’t have a lot of Silver, but I have been keeping my eye on it. The spread to buy or sell from spot has really widened, especially on Silver Eagles.
Gold up or dollar down. You say tomato I say tomahto. Gold up 7% last 40 years. I’m staying put.
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