Gold at another new record high. Ho. Hum.
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A Chinese guy, Eric something, was on Luongo's podcast, talking about the Chinese love of gold - and their psychology. Among other traits, he says the Chinese buy to hold. They don't think of it as investment; they think of it as money in the sock.
But he says the average Chinese saver-investors are excited by sudden moves - and neat round numbers. He predicted that if gold went to $3000 USD, the average investor's view would shift - seeing it, no longer as a savings vehicle, but as speculatory investment.
He predicted that Asian demand would explode, preventing a large pullback in gold prices, even if the US economy faked signs of strength.
It needed to pull back a bit just look at the chart. Spot prices will not go straight up all the time. The question is do you buy on a $40 drop like today or look for sub-$2700 spot gold?
I am buying ETFs to move cash out of bonds. I think if Trump wins the Dow is going to 50k, but I do not know how PMs will react? I suppose silver and platinum spot prices will increase at a faster velocity because of their industrial demand component which fits the current narrative of silver passing gold performance.
I am buying ETFs to move cash out of bonds. I think if Trump wins the Dow is going to 50k, but I do not know how PMs will react? I suppose silver and platinum spot prices will increase at a faster velocity because of their industrial demand component which fits the current narrative of silver passing gold performance.
silver hit the top of the chart trend channelany higher would have been a breakout move....will probably drop to the bottom of trend channel which seems to be about 32.5ish .......if you chart watch this seems very predictable ......personally i really dont care till i find something else to do with my $
Cigarlover
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Breakout on silver was around 32.80. A retest to the breakout level is pretty common. The 20day MA should be right around there as well.
Gold still well within the uptrend channel so same thing, maybe a pullback to the 20 day to shake out some weak hands?
Miners don't seem to be pulling back very much at all.
Gold still well within the uptrend channel so same thing, maybe a pullback to the 20 day to shake out some weak hands?
Miners don't seem to be pulling back very much at all.
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I’ve been a bit distracted with clearing up and sorting blocked drains caused by ‘storm’ Bert so haven’t been motivated to comment but
On Monday (25th Nov ) gold went from a new ath of $ 2716 to $2610
A genuine move of over $100 in one day
And nobody here thought it worthy of comment ……
remember when we got excited by 10 or 20 dollar moves ?
How times have changed .
Maybe it’s because moves in bitcoin can be several 1000’s in a day, so 100 in gold is chump change by comparison.
On Monday (25th Nov ) gold went from a new ath of $ 2716 to $2610
A genuine move of over $100 in one day
And nobody here thought it worthy of comment ……
remember when we got excited by 10 or 20 dollar moves ?
How times have changed .
Maybe it’s because moves in bitcoin can be several 1000’s in a day, so 100 in gold is chump change by comparison.
Mr. Slammy's gonna do what he do. Nothing goes straight up. Won't make any difference in the long run.
Also, you'll need to forgive folks in the USA - It's Thanksgiving holiday this week. People generally busy travelling to or hosting family and other distractions abound.
Also, you'll need to forgive folks in the USA - It's Thanksgiving holiday this week. People generally busy travelling to or hosting family and other distractions abound.
Yes, totally agree Bug. Just that this was a straight $100 move in a single day and possibly the first I can recall in 12 years of watching.
Short squeeze in gold as paper market breaks down? Is the gold market rapture close at hand?
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Still No New Highs For Gold Since 1980
When comparing intraday highs, the latest gold price peak of $2785 is far cheaper than its 1980 ($3407) inflation-adjusted price.
goldseek.com
I'm not all that excited for Gold. We need to see SIlver and Miners start busting some chops.
Interesting that it's suddenly running up, just as optimism emerges, with the end of the Cipher regime.Sign of melt up as folk run scared of fiats generally and dive into ‘the prettiest horse in the glue factory’ ?
And yes another all time high for me as the world sees how fucked up the uk is
I'm not sure what to make of it. Could it be the Woketard Banksters have turned the algos off, to push a narrative of Fear - that Literally Hitler is about to Take-Over?
So, gold prices rise to their proper level - $4000-$5000 level. Does that send fear and loathing and dollar-dumping, through Wall Street and City-of-London? Or does it ease pressures that have built from an unnatural deformation.
Viking
Yellow Jacket
There will be a pull back shortly as I have just purchased some more.
Viking
Yellow Jacket
Told ya, Gold and Silver down today.
I thought we might see gold testing the ATH again this week, but several forces are conspiring against it:
- Japan raised rates Friday which is pressuring the carry trade
- China's DeepSeek AI story is spooking the stock market
- The effects of Trump's tariffs (and potential tariffs) on commodity markets aren't well understood yet
All true.
Remember the Reagan years? No slam intended - I don't know your age. If you're under 50, they'll be a little fuzzy for you.
Gold hit over $750 about 1979, and then fell down to $250 - where it stayed for a decade. Why? Because it bears no interest, offers no returns. In those years, once it was apparent the economy was stabilized and then growing, the dollar was the place to be. Double your investment every seven years. Who but a fool - or a central bank - would hold gold, in such a world?
Nobody knows what to make of Trump, his team, or his programs. The Smart Kids say it won't work; can't work. They (their earlier counterparts, 45 years ago) said the same about Ronnie Ray-Gun (as he was called in my college-newspaper office).
It could work; it did work, even with Tip-the-decanter O'Neil working to grow spending faster than the economy.
And it was only in the Shrub years that cracks began showing, and investors wondering about how assured was the future.
Most of the market money is "Dumb Money." Which can move any sorts of ways, but stupidly. Some of them are LOOKING for a Pied Piper to waltz behind - and Trump may be that piper.
Will his plan work? I don't know. It might, I suppose, were we starting with healthy fundamentals - looking to undo damaging trends. That's not the case - we're in crisis, and half this nation wants to bring about collapse. Thinking it will lead us to the Utopia of Davos fascism.
I am not going to get out of metal. All this MAGA depends on ONE man, who almost died messily six months ago, at the hands of the amorphous Blob. They're a long way from being out of stooges and pawns and opportunities.
Reaganomics - Wikipedia
Should we trust the anon liars who edit Wikipukia?
I haven't even looked at it. I'm not interested in revisionism, and especially not Woketards' New Truth.
I haven't even looked at it. I'm not interested in revisionism, and especially not Woketards' New Truth.
Especially when the yield on the ten year was in the 13-15+% range in those years.
yep....i remember Volker well.......bought my first house in 80-81 ...home interest rates were over 12%....think they peaked at 15% ....i agree people today couldn't survive that environment......Coming out of Jimmy Carter to Regan seems very much like Biden to Trump .....the first few years out of Carter were pretty tough
The Federal Government debt is built upon of tranches of US Treasuries. As they reach term, the US Treasury Dept. has to pay the bond holders dollars. They do this by issuing new Treasuries (rolling over the debt). The US Government is the one that couldn't survive much higher rates. The interest on the debt is already too large. Raising rates like that would cause the debt to explode (as low interest debt obligations are replaced with new, higher interest debt obligations) and enforce a fiscal doom loop.
To be fair, Carter inherited the Nixon-Ford mess, I remember WIN, "Whip Inflation Now" well.
Only one thing will control inflation: Ceasing to expand the money supply.
The reason it does not cease, is GOVERNMENT SPENDING. To buy votes.
The New (raw) Deal brought this about, and there will unfortunately be no way to terminate it directly. Moral rot has not only set in, but is institutionalized.
That leaves only a currency collapse. And THAT will probably erupt into a societal collapse - a Red Revolution, and a period of darkness. A hundred years or a thousand, I don't know.
Powell cannot do what Volcker did. Volcker screwed interest rates up as a brake on CONSUMER spending - back when government spending was a fraction of what it is today. Powell has tried a LITTLE - five-percent is historically LOW - and look at all the blowback he's getting. Cheap money is more addictive than free coke.
We are gonna have to have that collapse. I don't want it; no one sane wants it; but there is no other way to stop this runaway train.
And Nixon arbitrarily ash-canned the tie to gold, because he wanted his Splendid-Little-War, more than he wanted sound money. At least, he didn't want Peace-With-Honor (his campaign phrase) before he bombed the snot out of the Cambodians. And that took more money-printing than could be sustained with a supposed tie to the Fort Knox stash.
None of this would have happened had not Roosevelt first created, in gaps of the Constitution, activist gimme-gimme government.
It's been a long march; and the perps, all up and down, sensed they would not live to see the day the price would have to be paid. Now we're there.
Did you get a button too?
Problem is, retail banks create much of the dollars via fractional reserve lending. Like 80% of it
Which is why we should be seeking to hurry it along, if it's inevitable anyways. Might as well yank that band-aid off while we still have resources left for the other side.
....as opposed to a long drawn out grind where everything of value gets used up just trying to survive.
He had no choice. It was either end it then, or wait a few weeks/Months 'til it ran out and have to close the gold window anyways.
If it was inevitable, might as well retain some gold.
Yep, that's why I always emphasize the use of the Trading with the Enemies Act to "legalize" the theft he perpetrated against the American People.
yes they inherited issues...ie nixon tried price controls etc...the big move that i remember from the carter years that feels like biden was the huge gas price jumps and embargo....and then the hostage problem.......i was a new driver then....gas went to ~1$ a gal and i found a dish washer job for $1 a hour ......the math just didnt work ......i had to make my money doing farm type work on the side .......
and the first regan years were very tough but he definitely changed the direction and ushered in some "golden" years in his later years and the subsequent clinton years
having lived the carter/regan years makes me think we will have to go thru a rough recession before things get better
That marked the start of the *"deficits don't matter", phase.
* Manna from Heaven.
That's a given.
I fail to see how anyone could see, or have ever seen, a different outcome from running our monetary system in such a way.
Chester A. Arthur was.
No. I got a first clue that not everyone in leadership is a leader, or even reasonably smart.
That kinda set me on the wrong path. Ford was not the answer; but I thought he was the problem. He wasn't - he was the result of the problem.
We were a divided house, when I was a kid. My old man a New Deal Democ rat. My mother, from Gnu Yark Schitte, was a Rockefeller Republican.
Well, there was Ford, the football player with too many concussions, and a leading star of the Rockefeller faction. I'd just heard my mother's enthusiastic support for Nelson's tepid feelers towards challenging Ford.
NONE of them were overly supportive of Carter. Well, he couldn't be all bad - he ran Georgia, it was doing all right...so my first election, that's who I voted for.
The wrong way. By the time Reagan educated me - his words and actions bore fruit - he was well into his second term.
But, no, I wasn't going to beclown myself with a WIN button.
Agreed, but government wants to be able to do the CTRL+P financing for all the libburl crackhead schemes. Everything from windmills and farms-to-solar-wastelands, to Depopulation Jabs - and the costly prerequisite, Gain-of-function viruses that were SUPPOSED to be lethal, but Chy-nuh dropped the ball there.
We still paid.
Like we paid to import 20-40 million invaders, and are now paying to feed and house in 5-star hotels.
Like we're paying to get You Crane to destabilize Russia to where Black Rock can gobble it up.
ALL that will STOP with sound money.
If fractional-reserve lending has to stop, also...better the economy slows, permanently, than we have a Magic Money Supply that funds our own destruction.