why gold and silver went up today
coinpalice
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there was a new 908 billion dollar stimulus bill proposed today, it doesn't include a 1,200 dollar payout for people making 75,000 or less, this made the u.s. dollar come down and in turn made precious metals go up. will gold and silver continue to go up? who knows, thoughts?
https://www.syracuse.com/us-news/2020/12/second-stimulus-check-update-theres-no-1200-payment-in-this-new-bipartisan-bill-heres-the-latest.html
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The time is ripe for price volatility. Watch out for bull & bear traps in this “highly managed” market.
The trend is your friend, until it isn’t.
Seems the "manipulators" are at it again.
The whole worlds off its rocker, buy Gold™.
A lot of strong hands seem to have “bought the dip” (about $1B worth of physical) last week. Only a pittance in the scheme of things - but some people with a lot of money seem to be hedging their bets...
Nice run up today.
I was fortunate to buy two platinum ETFs at a low of $850 an ounce about a month ago.
Platinum has been doing well even on days when gold and silver drops a little.
Couple that with Docebo 'DCBO', a tech stock that has run up from $16 to $72 in seven months time (I got in at $28) and it's been a very good month and just opened today on the Nasdaq, as it's been trading on the Toronto stock exchange.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
908 billion is a far cry from the $3+ Trillion wanted by other members of congress. Still, dilutive to the Dollar. I expect Gold above $2000 in 2021.
100% Positive BST transactions
yep, i think gold will be over 2,000 in 2021 also
will dollars continue to be freely plucked from the tree?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Yesterday's rise in the metals was a clear market reaction to monetary policy. Sure looks like it. Every once in awhile, the market gets to speak.
Now, back to our regularly-scheduled market programming.....
I knew it would happen.
yep, giving money away that you don't even have is not a sound monetary policy, i think gold has enough momentum to push to 1,900 before end of year
I believe we may be in for rising metals for a while... I would say we may soon be enjoying 2000+ figures. That being said, based on my past efforts at predictive statements, get ready for a big dip.
Cheers, RickO
Things go up when the fundamentals and industrial needs require. Then there are pencil pushers and paper shufflers. And projections and balances and it all gets muddled after that. Why ? Great question.
Just like any asset....things go up, when the market makers aka speculators, decide the time is ripe to load up, or unload to take a profit. Agree...supply & demand at times, does play into their game plan.
Gold 2200 by April.
Maybe, but my guess,... under $2k
One problem may be bitcoin. It is rooster blocking gold a bit right now.
gold just blew by a key resistance level of 1,850 and 1,925 is now in the cards
. . . and bitcoin just hit new highs.
In the news:
Germans suddenly hoarding gold and silver
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
i was going to revive this thread, but i got help, 1925 is now in play
gold should have a clear path to 1,970 now that 1,925 has been broke
And apparently palladium has a clear path upwards, too, My Eagles continue to look more appealing.
usually don't talk political, but the reason gold and silver went up this time is from the Georgia senate seats being really close, if the dems win, it will swing the senate to the dems majority and new stimulus packages will have a easier time going through congress, this will cause inflation later on in 2021 also, which is another reason to own gold and silver now
Gold and Silver didn't go up, the dollar went down. An ounce of Au or Ag is always an ounce - it never changes.
depends on you look at it, but not all people collect and invest in gold and silver, if your holding dollars, it might be time to convert
Why will this cause inflation? We've been on a 4 year stimulus Almost $8T and counting. Biggest 4 year debt increase in our nations history. Where's the inflation? lol
The whole worlds off its rocker, buy Gold™.
I’m pretty sure that because of the virus slowing everything down and putting a LOT of people out of work along with businesses going belly up spells disaster. Our country is going down a road never traveled before and I’m worried. I won’t comment on what the political climate will be for the next four years and what it’ll do to the dollar but, oh boy😐
All told I truly believe gold and silver has more room to go up than down.
Happy prospecting😊
Wait WHAT?
look around, I see it everywhere.
Grocery store, higher prices for smaller portions.
1/2" washers at the hardware store are 25% more expensive along with lumber and other materials.
Oh no doubt gold is going up. Blaming it on the "dems" however is beyond ridiculous.
The whole worlds off its rocker, buy Gold™.
Where's the inflation? lol
Take another look at financial asset gains over the last ten years. While you're at it take another look at who the majority is when it comes to purchasing these assets. Hint: not the bottom 90%. Where new money goes determines what it is spent on and what will be inflated (like a bubble). The FED and congress determine how and to whom new money will be released. It is usually who is financially supporting them. Consumers (taxpayers) really don't pay them that well. To quell the masses their helicopters are starting to sprinkle a few crumbs. An increase in social programs (think basic income for all) will increase the sprinkling. Enough outcry from the masses and the sprinkles could easily become a consumer price inflation downpour.
Inflation is defined as an increase in the money supply. Price inflation always follows inflation. It has just not been obvious to the majority of "inflation scouts" because it has not yet had a great affect on consumer goods and services. That will change as the "new" political flavor puts more money into actual consumers' hands.
Why gold and silver are and have been going up? Simple. Let Mish and his charts explain it to you:
Mish: "The best correlation I can find to the price of gold is faith in central banks."
How's your faith hanging with your central bank?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I see $2300 per ounce this year
I give away money. I collect money.
I don’t love money . I do love the Lord God.
derryb summed it up pretty well, but what happens is you put stimulus money in the hands of people who are actually going to go out and spend it, this will increase consumer demand and cause shortages for certain things and cause inflation. i have a masters degree and i have studied this in college, look me up in about 8 months and i will tell you i told you so
simply put, "dems" put the money in the hands that will spend it, the top 30 percent of the population put their stimulus money in a checking account
@derryb said "inflation is defined as an increase in the money supply"
I agree with your analysis, but not with this definition, which I don't think you will find in any mainstream textbook. In some sense, the definition doesn't matter if the analysis (and therefore the conclusion) is correct. However, inflation is defined as an increase in prices. An increase in money supply is an increase in money supply.
Both, by the way (inflation and money supply) can be quite hard to measure. Hence, the disputes we have seen in this board as to whether the CPI is a good measure of inflation. Money supply, of course, has become harder and harder to define and measure as the world has globalized, multi central banks have a material role in regulating money, and the financial services sector has become more complex. One might argue that anything with very high liquidity could be included in the money supply. (ie, if it's value can be measured and realized almost instantaneously). Thinking in this fashion, money has broadened over the past few decades.
To be fair, inflation is defined as the action of inflating something or the condition of being inflated. Economically speaking there are different types of inflation.
An increase in the money supply, monetary inflation, results in price inflation. Most people are misled by those creating all of the money into believing that inflation is nothing but rising prices. They do not want you and I to correctly understand that it is their monetary inflation that is causing us to pay higher prices. They have conditioned us to believe that inflation is nothing more than rising prices and that there is no one to blame.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Why did it plummet today?
BTW bc is on a roll....over 40k per coin. When will that bubble burst?
Doesn't look like anytime real soon. It seems like money is rolling out of PM's today and into the fast movers like Tesla and Bitcoin. Lots of new buyers
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Since there are no real fundamentals to work with just maybe BTC has been and continues to be under valued. Maybe it is still finding its basis. We tend to always look at something quickly rising in price to be in a bubble because we have an established accurate reference point that is based on fundamentals. I don't believe we yet know BTC's reference point because we are not clear on any fundamentals.
The only fundamentals I see possible are supply and demand. Recent prices tell me those have been grossly underestimated and are now becoming clearer. Further clarity could easily result in much higher prices. However, look for outside influence (SEC regulation?) to eventually counter those two fundamentals. At least the FED can't print more bitcoin.
Appears the small fish use the initial $20K, $30K and now $40K price targets to take profits. Probably see it again at $50K. These psychological $10K price intervals might provide a key to entry points.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Tesla, Bitcoin. Definition of a speculative bubble. Enjoy it while it lasts.
https://www.hussmanfunds.com/comment/mc201220/
Hmmm....
So I'm a newbie and don't have a lot of formal financial education. I'm just an average Joe (well, Josephine). I think that a few things are in play.
Lots to think about. It will be an interesting 2021.
Kelly
Didn't take long....The bubble may not have burst, but the balloon sprung a major leak
Profit taking with BC. BC miners selling a bunch of their coins at a high, it's why they mine BC. The reasons the whales drove it up have not changed, they will return.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Not so sure about your definition of "profit taking." If any other market dropped by 25% like bc in a couple of days, it would be considered "The bubble has burst,"
For an asset to decline to where it was six days ago is far from a bursting bubble.
More like the six day bubble has burst. lol
I would like to see another few days of decline while PP proceeds transfer to RH.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
What I learn at the gas station:
History has taught me that if gasoline is moving up it is because oil is moving up.
If oil is going up then consumer prices are going up. Oil is in one way or another a cost of most consumer goods and services, primarily transportation costs.
If price inflation is going up then the dollar value is going down
If the dollar is going down the alternatives to it are going up.
Anyone else notice gasoline is on the move?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Yeah oil went up so gas went up. Tends to happen in unstable times which we are certainly in to say the least. Gold and gutter metal used to fare well in similar times but not so much anymore. Glad I have self sustainable land for my insurance. PEACE!
The whole worlds off its rocker, buy Gold™.
capitalism bubble?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I suppose if your counting in fake toilet paper or those 0 an 1 imaginary coins as wealth. I got a big screen down in my bunker. lol
The whole worlds off its rocker, buy Gold™.
Magic bean imaginary coins.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
You said it. Hope you make loads of toilet paper off them.
The whole worlds off its rocker, buy Gold™.
beans > fiat toilet paper > gold > more beans > more fiat > more gold. Rinse, wash, repeat with the occasional diversion to some long term silver eagles.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
dollar up, PMs down on plans for another $2T stimmy
It created a bond yield spike that "predictably unleashed a jump in the dollar which coupled with the rise in real rates, hammered gold (which makes zero sense since the US deficit is about to explode, but that's just how mechanistic algos roll)."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey