I am bullish on precious metals; the rest of the market, I am not so sure about except for certain sectors. In my opinion there are no free markets, there is manipulation in pursuit of total control. Humanity seems to have lost its sense of reality. When people in power
The global banking picture looks worse and worse. I believe that one way to save the depositors is to quasi nationalize the tier one big banks, with the government effectively doing this recently by backstopping (SVB) or forcing a sale (Credit Suisse) and wiping out the equity and debt holders, an option probably not afforded to the smaller tier two, three etc. banks as they are not systemically important enough. If these banks fold, it will be you and me that will sink with them.
Gold and silver are being purchased in ever-increasing amounts by both governments and individuals, despite all the rhetoric and blockades against the transportation of the metals by individuals.
How have the mining stocks represented by ASA (a closed-end precious metals and mining fund) fared compared to being in physical metals over the past twenty years?
Utilizing the cup and handle formation on the monthly chart of gold, built up since 2012, and projecting the depth of the cup using the right shoulder of the formation, gives us a dollar value of approximately $1,000.00 added to the top horizontal green line of $2,000.00, giving us a projected price of about $3,000.00. As always, this represents the what, and the when is always the really difficult part to predict.
The last two weeks of 2022 were a real head scratcher for me as the prices of gold and silver were increasing while the gold and silver stocks were languishing or falling. I can only put this down to large portfolio holders rebalancing or selling losing positions for taxation purposes.
When banks are in trouble it is a misnomer, because of bank legislation regarding bail-in’s YOU are in trouble as your deposits will be used to bail them out. Remember your deposits are LOANS to the bank. When was the last time you looked at their financials?
Last week we spoke about silver and looked at the reasons that the dollar is getting pushback worldwide. This week I would like to add to that, but focusing on gold.
The majority of reasons discussed regarding silver apply equally to gold.
As you are probably aware, I strongly favor silver and silver stocks for numerous reasons. When looking all the way back to 2000, you can see that silver prices increased by about 125% and from 2003 to 2011 it increased by a whopping 950%
Buying by central banks has been huge in this past quarter. I wonder if this is why the prices have not been allowed to run, reflecting the enormous money ‘printing’ spree of the past number of years.
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