Gold has spent 6 days in a row over the upper Bollinger band, this is unheard of. I have seen a 7 day before, this is a sign of great strength! Gold has 18DMA at 1836+ area and rising quickly. Silver had an amazing move. I would be very careful, $4-range in one day! I appreciate your bravery, but I just don't have it. I would avoid leverage futures here:
Gold and silver are firm before the FOMC. There is expectation that Federal Reserve will reiterate of easy monetary policy for a very long time. Federal Reserve and most central banks will tolerate higher inflation for the rest of the year and next year. This is one of the reason why gold and silver prices are rising. Full Story
By: Stewart Thomson, Graceland Updates - 28 July, 2020
Gold tends to react violently at round numbers like $500, $1000, and $2000. When gold makes its way to $3000, more “price violence” should be expected. What about tactics for today, at $2000?
Well, nervous investors can buy put options on gold, silver, and mining stocks. That’s the simplest way to protect a portfolio from a big drawdown. It’s a lot like buying fire insurance for a house. It doesn’t cost a lot, but there’s a lot of protection for a modest outlay of capital. Full Story
As shown in the graph below, the first half of 2020 produced an unusual change in the relationship between gold prices, stock prices and recessions, something that has only happened twice before in the last fifty years. Each of the two previous times this has occurred after a long run up in stock prices, it has been part of a cyclical change to a cycle favoring gold over stocks for a decade or more thereafter. Full Story
The best performing precious metal for the week was silver, up 17.79 percent. Silver had its biggest weekly gain in nearly 40 years and could keep soaring. The metal hit its highest level since 2013. Mike McGlone, commodity strategist at Bloomberg Intelligence says the white metal could eventually climb to $30 an ounce amid a broad-based bull market for precious metals. McGlone predicts the metal will stay between $20 and $25 for an extended period before moving higher. The Global X Silver Miners ETF had a ninth straight day of inflows and the iShares Silver Trust saw five consecutive days of money flows. Full Story
Gold and silver’s gains in all currencies are due to concerns that global currencies will be devalued in the coming months and years as currency creation and debasement on a scale never before seen in world history intensifies. Full Story
For the week just past, they reported receiving 2,486,000 troy ounces of gold -- and another gargantuan and new weekly record 44,248,000 troy ounces of silver -- and virtually all of that silver comes courtesy of JPMorgan.
Gold is heading for a seventh weekly gain, the longest stretch since 2011, while silver is poised for its biggest weekly advance in about four decades. Gold may reach the all-time high by early next week... Full Story
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