Precious Metals Climbing a Wall of Worry.
In this report I cover the early market action from London on Thursday, January 25th, 2018 with a focus on gold and silver.
Long Term Dollar Top Video:
https://steemit.com/market/@maneco64/long-term-dollar-top-pointing-to-massive-bull-market-in-gold-and-silver
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STOPYou can brag a little if you want to. ☺
You have been steadfast in your analysis.
I always enjoy when you bring out the old literature about economic or market rationales.
Thanks @jagged!
@maneco64 putting things all in perspective and making substantiated arguments. I wonder if this ongoing exhuberance and manipulation is going to smack regular households hard or just a pat on the back for the long term precious metal holders. I'd choose the latter to be honest. But not keeping my eggs in one basket that's for sure. Just read this artikel on business insider and I quote:
' M2 money supply at last count was about $9.8 trillion as of March 12, 2012. This means that roughly 4.46% of US dollars in circulation are 'backed' by gold, the rest backed by false promises and goodwill.
In the UK, the government's Exchange Equalisation Account shows 9,971,000 troy ounces of gold on the books. At today's market value (1,054 British pounds) and the Bank of England's most recent statement on reserve balances and notes (259.5 billion pounds), Britain's gold supply constitutes roughly 4.05% of pounds in circulation. Simply put, the price of gold would have to rise 20-25 times in order for the US and British governments' gold assets to match the supply of money in circulation. '
That was 2012 how about now..
The mining stocks are not yet responding to this rise in PM's suggesting to me that a significant correction is due before we get a more sustained breakout. When this happens we will be off to the races, but keep an eye on the miners, I think they are the leading indicator.
I think that there is a lagging effect with the rise of the precious metals rising. They've been generally flat all of last year and are just starting to move despite the dollar index gradually dropping. Once they get going though, they move pretty quick. The change in the dollar policy from strong to stable could be a signal of some inflation to come but who knows with this market.
Exactly, who knows with this market..
All eyes are concentrated on crypto right now, the euphoria continues in anticipation of another bull market. During that time precious metals will quietly climb up. When people finally turn their attention to gold, silver, etc. it will be in full breakout and FOMO like with crypto is going to follow.
Sell gold at the end of February? #seasonality
I hope you are right about gold / silver going higher...but I want it to wait a bit. I still need to buy more!
Same here, fomo! 😁