Gold at another new record high. Ho. Hum.

[nickndfl]

The USD Index is actually strengthening which means momentum is very strong. I am waiting for a pullback, but who knows where it will happen.

 

[Casey Jones]

The USD Index is actually strengthening which means momentum is very strong. I am waiting for a pullback, but who knows where it will happen.

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.

 

[pmbug]

Eric Yeung. I've been following his X/twitter account (@KingKong9888) for a while now.

 

[nickndfl]

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.

 

[WinkWink]

 

[Ttazzman]

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.

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]

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.

 

[Goldhedge]

America's Gold & Silver were ROBBED before...Bullion Dealer Asked, COULD IT HAPPEN AGAIN?!​

In this video my bullion dealer discusses the gold and silver confiscation executive orders in the 1930s with a gold and silver stacker in his shop. Tim Marschner of The Coin and Stamp Shop talks about why the United States left the gold standard and turned to fiat currency. Do you think a modern silver and or gold confiscation is possible? Is a confiscation of physical precious metals by our government likely? Watch as this avid stacker buys several gold and silver coins as a hedge against our out-of-control government, evil central bank, and the failing US dollar as the world's reserve currency. Do you agree with this stacker's reason for exchange his currency for precious metals? Tim also warns his viewer about the upcoming US Presidential election. Never before has stacking precious metals been as important to do as it is today. Make sure you build a stack of silver rounds, silver bars, silver coins, and gold coins as essential barter and wealth preservation!
14

 

[rblong2us]

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.

 

[pmbug]

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.

 

[rblong2us]

Mr. Slammy's gonna do what he do. Nothing goes straight up. Won't make any difference in the long run.

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.