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We are not in normal times. And forgive us if no one has ever heard of a ZBT. Anyway, seems like no one noticed that Silver had a really nice day Friday. Let's see if that carries through next week. Soon to be hitting the really important resistance levels, again.

 
Marty Zweig? Never heard of him? Look it up the world existed before we were all born. Hunt or Zweig. Hmm. I'll take Zweig thanks. He was a fixture on Wall Street Week. Ever hear the expression don't fight the Fed? That was Zweig.
 
It's certainly possible that stocks don't really go down much. All depends if the FED just prints to save the system. Things will fly but Gold and Silver would lead. they would also outperform relative to the overpriced/held up tech stocks.
 
Voodoo said:
It's certainly possible that stocks don't really go down much. All depends if the FED just prints to save the system. Things will fly but Gold and Silver would lead. they would also outperform relative to the overpriced/held up tech stocks.
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As this Von Mises bloke once said, it’s the crack-up boom. Apparently he knew something about economics. 🤷‍♂️
https://www.investopedia.com/terms/c/crackup-boom.asp
 
...
In a note published Sunday, commodity analysts at Goldman Sachs said they expect higher gold prices through 2024. In the report titled "Gold's shine is returning,' the analysts raised their 12-month price target to $2,050 an ounce.
...
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www.kitco.com

Goldman Sachs raises 12-month gold price target to $2,050 as the metal's shine returns

Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
www.kitco.com

These guys are supposed to be really smart and they think gold is only going to go up about $40 over the whole of 2024? Who are they kidding?
 
My memory of Mises' teachings is that the crack up boom precedes the deflationary bust, not the other way around.

So says Mises, anyway.
 
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dpong said:
My memory of Mises' teachings is that the crack up boom precedes the deflationary bust, not the other way around.

So says Mises, anyway.
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Hmm... Not according to this:
mises.org

The Specter of Hyperinflation Looms over the Economy | Michael Matulef

The threat of hyperinflation has haunted fiat money economies throughout history. Although past empires crumbled under the weight of unrestrained money printing, modern bankers at the Federal Reserve assure us that today’s financial system is immune to such a fate.
mises.org mises.org

[I'll sit the next round out.]
 
pmbug said:
www.kitco.com

Goldman Sachs raises 12-month gold price target to $2,050 as the metal's shine returns

Kitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
www.kitco.com

These guys are supposed to be really smart and they think gold is only going to go up about $40 over the whole of 2024? Who are they kidding?
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Anyone who thinks they are giving out a forecast they actually believe to be truthful.
 
If we were any other country other than the European Union than yes all of this money printing would lead to hyper inflation. Because the US is the worlds reserve currency that won't happen though. Not unless the reserve currency switches to another currency and right now there is no other game in town.
As it stands right now we just export our inflation to other countries which is why other countries want out but for them there is no other choice. China is already hurting. Does anyone really think they are going to stop doing business with their largest trading partner (The US)?
We do have inflation and as long as the fed reserve is around that will always be the case. The only way we can get hyperinflation going forward is through a money printing so massive that ends up in the hands of ordinary Americans or if we were to get cut off from the goods from the rest of the world.
 
Cigarlover said:
If we were any other country other than the European Union than yes all of this money printing would lead to hyper inflation. Because the US is the worlds reserve currency that won't happen though. Not unless the reserve currency switches to another currency and right now there is no other game in town.
As it stands right now we just export our inflation to other countries which is why other countries want out but for them there is no other choice. China is already hurting. Does anyone really think they are going to stop doing business with their largest trading partner (The US)?
We do have inflation and as long as the fed reserve is around that will always be the case. The only way we can get hyperinflation going forward is through a money printing so massive that ends up in the hands of ordinary Americans or if we were to get cut off from the goods from the rest of the world.
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That’s what the milkshake straw guy says in Post #5568
 
The fxhedgers article has also been posted here:

www.pmbug.com

What is Risky In Life - Zero Reserve or Full Reserve Banking?

Since the inception of the Federal Reserve System, our fractional reserve banking system has steadily degraded reserve ratio requirements until they finally just did away with them altogether and ushered in our brave new era of zero reserve banking. Banks are not tasked with maintaining any...
www.pmbug.com www.pmbug.com

and here:

www.pmbug.com

American Reality Check

The Federal Reserve has reduced its balance sheet by $626 billion since the peak in April 2022, with total assets now down to $8.34 trillion, the lowest since August 2021, according to the weekly balance sheet released today. Compared to a month ago, total assets dropped by $94 billion. ...
www.pmbug.com www.pmbug.com

~~~

...
One particularly frustrating aspect of 2023 for investors has been waiting for a recession that never came, as many Wall Street banks also bet on that happening. BCA Research, who provides our call of the day also expected a pullback, and say that is now inevitable for 2024, possibly crushing stocks by 27% from current levels.

“We do not expect any further rate hikes in the U.S. over the coming year unless inflation significantly picks up. However, investors are pricing in too much easing before a recession arrives, and too little once it does,” BCA strategists warned in their outlook that published on Monday.

And stocks are “likely to decline significantly in response to a recession,” leaving the S&P 500 trading between 3,300 and 3,700 next year, they say. ...
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More:

https://www.msn.com/en-us/money/mar...ar-warn-these-bearish-strategists/ar-AA1kEUbz

Direct link to BCA Research report:

www.bcaresearch.com

OUTLOOK 2024: The End Of The Easy Money Era

Today, we are sending you the BCA annual outlook for 2024. The report is an edited transcript of our recent conversation with Mr. X and his daughter, Ms. X, who are long-time BCA clients with whom we discuss the economic and financial market outlook for the next twelve months toward the end of...
www.bcaresearch.com www.bcaresearch.com
 
Voodoo said:
GDX is severely underperforming... I'll leave you to come up with the why.

GLD first line is about 188.25 and coming up fast.
View attachment 10874

Approx 30-40% undervalued to where GLD is right now.

View attachment 10876
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Don't look now but Gold is testing that first Major resistance line right now. And that slow step brother GDX is also over $30
 
This looks good. GDX busting through $30 and should head straight to $35. Gamestop just happens to be waking up too. If we closed the week here it looks like the highest close since 2020.

The highest GLD resistance on that previous chart was ~$190.98. I had to go look it up.
 
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Maybe Goldman Sach's guy meant $2,050 was a 1 month outlook and fat fingered that 2 after the one. It's looking like 2024 is going to start the year above $2,050.
 
Voodoo said:
This looks good. GDX busting through $30 and should head straight to $35. Gamestop just happens to be waking up too. If we closed the week here it looks like the highest close since 2020.

The highest GLD resistance on that previous chart was ~$190.98. I had to go look it up.
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I'm thinking $33 GDX will see the first pullback, but I would love it if we go straight to 35.
 
It surly will have a few down days on the way but I doubt it takes a month. Broke above the neckline and the 200 day moving-avg today which were about the same $30-$30.40 level.
 
The only question in my mind is how soon do we hit $35 in GDX? We have the Dec. Fed meeting on the 12th, which no doubt will have an impact on pricing. Will GDX hit $35 going into the Fed, then correct? Or do we hesitate until the fed meeting and launch to $35 from there. I'm going to estimate 3-4 weeks to hit $35
 
jelly said:
The only question in my mind is how soon do we hit $35 in GDX? We have the Dec. Fed meeting on the 12th, which no doubt will have an impact on pricing. Will GDX hit $35 going into the Fed, then correct? Or do we hesitate until the fed meeting and launch to $35 from there. I'm going to estimate 3-4 weeks to hit $35
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Bullish now Jelly?
 
Strong finish today. Gold is only 20 points away from an all time high. This will be it's 4th attempt at 2090. If it busts through there I suspect it will get some interest back in the miners. Could happen tomorrow.
 
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