Russia has been increasing its gold reserves lately, mainly through buying gold domestically, becoming the largest buyer of the metal in 2018 and aiming to do it again in 2019. This trend started at about the same time in Russia began selling US Treasuries, reducing its value in US assets from US $92 billion to US $10.07 billion in US debt. This tendency to reduce the amount of dollar-denominated assets is in line with Vladimir Putin’s warnings that the dollar may lose its dominant position and reserve currency status. The Russian president linked this possibility to a strategy recently adopted by the US authorities to impose unilateral sanctions and use the dollar as a political lever to force other countries to bow to Washington’s will. https://www.fort-russ.com/2019/12/r...=wp&utm_campaign=push&utm_content=new-article
I bet the countries that have been hoarding tons and tons of gold are happy they did. When push comes to shove they can deal in gold and avoid all fiats if they so choose, which is happening already. Theres no other reason for stacking real money and they know it. The trade deal failure reality is setting in.
Goldman Sex sees 1,600 $ gold, but only 18 $ on silver. Seems like silver has sunken down deep. I am not sure it will stay around 18 $, because if the buying is really fear-driven, then it could reach sky high... fear has no limits! Greed either! Keep stacking both metals: https://www.kitco.com/news/2019-11-25/Goldman-Sachs-sees-gold-at-1-600-silver-at-18-in-2020.html
Buy grams or 1/10 fractional if the price moves bother you or it keeps you up at night haha. Smaller amounts are easier. It's nothing to worry about in my mind but it can help to chop it up like that. If I'm ever hesitant on getting an oz, I will get a 1/10 something or a quarter oz something and spend the rest on silver. Nothing wrong with switching it up.
Grams add up and I do it that way often. It's a no brainer. My lcs will sometimes have random gram bars and hes always fair. I feel dumb to pass those up so most of the time I will take some of them too. It adds up to serious bucks bro. People that think gold is expensive have never dug for it. Go to the best gold bearing creek and see what it takes to process an ounce haha. Makes my back hurt to think about it.
I have a feeling we will see this continue. Falling USD will boost AUD as trump gets re elected and rides the dollar down the drain. This means XAUUSD will hit highs but XAUAUD may stay relatively flat. Great time for new stackers, best buying opportunities right now.
You'd be surprised how totally dumb average sheeple are. Many believe a 1 oz gold bar is "so tiny" and assume it's "cheap" When they see 5 grams, they'll ridicule it. Even those who can't afford a mere 5 grams. But these people go to Starbucks every day, order expensive meals online, have the latest iPhone and smart watches We know best how things work. At SilverStackers.com
In some countries, the USD is actually rising. It all depends on the local currency's strength vs the dollar. In fact, you would drool for dollars if you were from Argentina, Venezuela or some Eastern European country.
Haha it's sad that it's considered strong. With 2 cents of purchasing power left in the dollar the others must be really weak! What are they doing to us?
They could try haha. It was probably easy last time but it was also money and everyone had it and they trusted the govt more than now. No one has any gold anymore as far as they know. And 300 million+ in the US, just not logistically possible.
There's a lot of noise in the market, lots of analysts on YouTube selling all sorts of sensational predictions both ways up and down, hoping to earn a couple more eyeballs and clicks, but I think the biggest factor is Fed fund rate and QE.
youtube is a total waste of time for anything finance. what I;ve seen on gold/silver on youtube is almost universally weird cult austrian economics. my interest in gold at the moment isn't so much what the fed is doing but simply that gold is relatively cheap this late in the business cycle. opportunity cost of moving 1 or 2pc of portfolio into gold is very low.
Lol, I wouldn’t call Austrian economics weird, but it does have a bit of a cult following. For good reason.
