Why did you put an incoherent vanity under News?
Gold has been relentlessly bludgeoned by central banks any time it goes above 1800. Gold wants to tell a tale on currencies and the purveyors of those currencies want to forestall that as long as possible.
Those banks want to keep gold at about $1750. It’s obvious and blatant. The proof in the puddin’ is the wild difference between the paper price and the physical price. Lately, a physical 1 ounce gold coin has been $175 higher than the spot paper price.
The ratio on silver is even more dramatic. At 23.50 spot on paper, a single silver 1 ounce eagle has cost 34.00
Some people (IMHO who are making a mistake) are using cryptocurrency as an inflation hedge and as an investment. Cryptocurrencies are the main reason that gold has not appreciated as it would have in the past. Yet when the consequences of all this wasteful government spending, dollar printing and the subsidizing of the non productive schemes such as green energy boondoggles, corporate squandering of capital into ventures such as EVs which will not return a profit and subsidizing unproductive people and Democratic cities, the dollar will lose value, cryptocurrencies won’t hold up and gold will increase greatly in value.
Spike 20 or more time this year.
Still down over 10%
Actual magnitude of spike (both in absolute terms - i.e., $/oz. - and as a percentage) not mentioned in first sentence.
FAIL!
Regards,
What’s the difference between investing in cryptocurrency and investing in Tulips?
As pointed out by other above - we may well see the gold-price manipulation dropped in order to destroy crypto currencies. Central banks have no good options but they do own gold and have been adding to gold holdings recently. CBs have a growing incentive to let some of the air out of the cryptos (say, all the way to zero).
I have a considerable investment in paper gold and have been wondering why the price has been stagnant. My conclusion is that much like the fake S&P ratings that kept mortgage filled CDOs afloat before the bust in 2008, raging inflation has been discounted as temporary. Paper gold prices have ticked up. I expect a dollar bust and a big jump in gold prices in the near future.
This is a good time to buy canned goods and gold.