Gold was at $2233 a minute ago pretty exciting, so what's the happenings, anyone here buying, selling or holding where you at?! Having just moved last November money is really tight for me right now so I'm holding, but at the end of April there's gonna be a coin show here in Sacramento so that's exciting as well, maybe I'll just look!
Fundamentals remain bullish, $2,255 on the COMEX yesterday. New all-time highs. I wonder what a common Saint will cost when gold is $3,000 an ounce ?
We're not seeing hyperinflation or even the 1970's inflation. If you run the CPI vs. gold from 1998 or 2002 or 2012 or 2020 you will see that inflation hasn't been high except for right after Covid and Russia/Ukraine. I'm not sold it's going back to 2% where the Fed wants it, but even 3% or so is NOT a rerun of the 1966-1981 period.
Hmm. The site I use to check prices (goldprice.org) is showing a flat line at $2233 today. Seems to think the markets (EVERYWHERE) are closed.
Wall Street is still hating gold. It's moving higher because of demand from foreign central banks (and Chinese and Indian retail). I don't see those demand drivers diminishing too much. There's a decent chance that Wall Street sentiment changes. It seems to me to be very bullish for gold.
I posted a ton of supply/demand structural charts in another thread. Big thing now is gold ETFs are bleeding cash which means this move up is CB and retail driven around the globe.
Pumped higher, $2,257.51 right now, btw there's a 2006 gold buffalo on CL for $2200 if anyone is interested. Nice price but it would wipe me out and I hate living without cush if you know what I mean! https://sacramento.craigslist.org/clt/d/elk-grove-2006-50-gold-buffalo-us-mint/7725580460.html
Aaaand back down to $2245 around 8 EDT. But a fairly sharp bounce back from that low over the past hour. Silver seems to be mirroring the trend.
Someone is playing with the switch on silver too. Electrician must have wired them together at some point in the circuit
They tried to test and probe $2,300 but we got repelled at $2,290 and change. Too many sell orders there. Like the last 500 feet of Mt. Everest, we need to rest and rebase and prepare for an assault after basing.