For once in a long time it might be lucky to be on watch in the cold windy crow’s nest tonight, Lady Silver’s sails have been filled this day and the mast be creaking with the strain.
Was having a quick look at the silver price chart on Kitco...then for the life of me I didn't give a rats about the Ag price....not sure why.
GOLD & SILVER BEING UNLEASHED: Gold Price $30 From Hitting 5,000-Year High! Got a chuckle out of that headline on another site. If gold is at a 5000-year high, then how come one hundred years ago 100 gold sovereigns would buy you a nice little inner suburb house in Sydney or Melbourne, and yet today 100 gold sovereigns will not even cover a 10% deposit on the same sort of real estate? Gold would need to rise to over $50,000 per ounce to hit a 5000-year high. So a long way to go yet!
Markets basically closed over Easter until our Monday morning. Opening morning is always a lottery. Up, down, or bugger all? Monday night, NY morning time will be the barometer for the next few weeks. It’s 12 years since the last crash and 44 odd years since the Hunt Brothers, Mike and York, went belly up.
I read recently that 60 Billion dollars has been withdrawn from US banks since the recent bank collapses that has not made its way to the larger banks. It would appear that that is the reason for the higher metal prices as it looks for a safe haven. As an aside, BTC has been steady over this month at $28K indicating that crypto has reached “Institution” status and has been sidelined along with the banks as there was not the expected rise from the bank fails.
I'm predicting a sharp & definitive next leg up in both metals on Monday. Sentiment is great, RSI's are up, risk is up, safe haven demand is high, central banks have shown dovish signs (everywhere but N.Z. it would seem)... It's a virtual perfect storm. As always with the caveat "providing a whale doesn't drop a shipping container of gold & a ship load of silver on the market all at once, I think it's time to sound the old bull horn again. (This time, I feel so much better prepared). If you're not already all in, but the dips...I guess (let's face it, you're too late!)
I can’t help feeling that we’re living the dip today. It doesn’t have to go down to be a dip, just a steady rise over the next few months will show that today is the buying opportunity.
The Silver Lady and her golden sister sailed calmly past Easter Island over the weekend and held steady.
Last month after the banks went down, smaller bank withdrawals made their way to the larger banks except for what I believe was 400 Billion dollars. I’d need to locate the reference for it, and that’s the extra money floating around.
Emerging markets and assets out of the system it seems. Some are paying attention! Central bank gold purchases biggest since before ww2 now. The decline is accelerating. Go Brandon! Burn it all down!
This current run-up for gold and silver feels different to me than the other ones that I saw since 2010. I don't know exactly why but it feels more gradual and on a firmer foundation that previous climb events. Maybe it's my imagination, I guess I'll find out soon enough!
Probably because premiums have matched the rise in spot. Prior years they were somewhat inversely proportional, but now it further reflects the scarcity of metal.
