A few things seem to be maintaining the bid on gold, and they're all fundamental in nature. Perhaps this is one of the reasons many technical analysts keep calling for deeper pullbacks which continually end up being both shallow in price and short in duration?
The question for the technical analysts now would be, has gold confirmed it's a move above $1800?
This 4th of July week 2020. We're seeing the largest ongoing COMEX silver stopped contract delivery figures in over four decades of time.
We're about to dive into details of that topic and more.
Indeed, $1800 acted as major resistance coming off of the 2011 run, and it is safe to say that the psychologically important level is the last major resistance for gold on its way to new, all-time record highs, much in the same way that $1350 had been acting as major resisance over the last few years.
What gold bugs are looking for now is for gold to hold above the $1800 level, meaning that this isn't a false break-out. Nonetheless, one thing is certain: Excitement is coming back into the gold market now that gold is just a stone's throw away from $1900 and beyond!
In the last 65 days of time, the US National Debt has increased by over $2 trillion fiat Federal Reserve notes. The nation's debt is now over $26.2 trillion ballooning towards $30 trillion through the end of this year into 2021.
Much in part due to the now partially melded US Treasury and private Federal Reserve central bank's response to worsening economic and financial conditions.
Progress was being made in international trade.
The keyword there is "was" because 2020 happened, and so did Black Swan after Black Swan.
Now, halfway through 2020, It seems the Trade War with China is heating up again. Indeed, many analysts are wondering if trade talks or trade itself is breaking down. Two days ago it got the point where President Trump even put out a late-night Tweet about China and Trade.
Specifically, this Tweet...
We've been wondering aloud why there is so much gold bullion flowing into the COMEX and specifically Brink's NY out of the four major Swiss gold refineries?
The all-time record stopped COMEX gold contract is happening this month in June 2020, thus far it represents over 5.2 million oz of gold. Almost 161k of gold kilobars you see below. Each one valued at around $57 grand.
The US stock market had a hiccup last Thursday, and that hiccup has many analysts, traders, and investors wondering: Is the "bear market rally" over, or was this the first pullback of a new bull market?
If developments in the United States over the last week are any indication, however, it would seem that upcoming market intervention errs on the side of the latter. Specifically, both the Federal Reserve and the Trump Administration...
This past week, over 680 of you out there took part in a random bullion poll we posted.
The vast majority of you deem silver bullion to be the best bet out into the year 2025.
Today we are going to explore why silver bets are a building consensus across the investment world. Perhaps too why we probably all are underestimating the asymmetric potential of this bullion bet.
Last week we witnessed one of the most controversial economic releases in years from the Bureau of Labor Statistics. To say the Employment Situation Report for May 2020 was a shocker is putting it lightly.
While nearly everybody was in agreement that there would be millions of job losses in May, it was only a question of "how many millions"?
