@derryb said:
Lest we forget who helped bring record prices: central banks. The price of gold is a reflection of faith in the >currency it is priced in. Translation - central banks now prefer gold over dollars.
Only at the margin. Their dollar holdings dwarf gold holdings.
Well, the above chart, from a reliable source, claims central banks NOW hold 23 percent of their reserves in dollars and 24 percent in gold.
They also want gold because if they are engaged in nefarious activity they want something untraceable.
sorta like anyone who owns bitcoin? LOL
No Way Out: Stimulus and Money Printing Are the Only Path Left
You'll know we're in the 9th inning when we get some $300 moves up. That'll be the signal to go short the ETFs or something without selling your numismatics or bullion.
You'll know we're in the 9th inning when we get some $300 moves up. That'll be the signal to go short the ETFs or something without selling your numismatics or bullion.
Are you seeing any actual gold there?
No Way Out: Stimulus and Money Printing Are the Only Path Left
@derryb said:
Are you seeing any actual gold there?
Not sure what you mean but if you mean phyiscal and paper buying of gold, yeah, my friend is a treasurer for one of the Top 10 banks and they are buying custodial gold for clients. A few private banks I worked for are asking me questions about gold coins for some of their HNW clients.
I can always tell when it is no longer early in a move....I get the emails about what gold coins to buy from the Saints, Liberty Head DEs, and modern bullion. Unless someone is in the ultra-rich, they can get 5% exposure to gold with a few dozen or few hundred coins which is not a problem to store.
But I managed $$$ for a few guys where you'd need a mansion to store 5% of their net worth in gold !!!
I wonder how many times the OP has changed the dollar amount in the subject heading ??!!
I'll try to update it every $50 or so for now but at some point I'll have to change it to $100. I know people don't believe it, but we could easily see a run to ~$26k as soon as 6 months.
With all the celebration with gold price records it is important to realize what this means to the other 99% of your wealth.
Sadly, most people (including professional money managers will continue to believe that gold and silver are "too expensive" and will continue to hang onto their stock & bond portfolios while the Fed continues to pump money into the system in an attempt to keep it from evaporating.
It should be obvious what's happening by now, but the financial system's paper pushers will continue to thrash around in the markets with their imaginary keyboard money. Jim Sinclair was 100% correct - get out of the system.
Q: Are You Printing Money? Bernanke: Not Literally
Comments
Well, the above chart, from a reliable source, claims central banks NOW hold 23 percent of their reserves in dollars and 24 percent in gold.
sorta like anyone who owns bitcoin? LOL
No Way Out: Stimulus and Money Printing Are the Only Path Left
Gold above $4150, 4160.0 ATH.
http://ProofCollection.Net
kitco shows high of 4150 so far
USD correlation to gold short term is positive, long-term negative. It's doing its own thing, for now. Cool.
kitco is over 4150 now
I'm seeing $4,189 in the overnight COMEX futures markets:
https://finviz.com/futures.ashx
You'll know we're in the 9th inning when we get some $300 moves up. That'll be the signal to go short the ETFs or something without selling your numismatics or bullion.
futures just passed 4200
Are you seeing any actual gold there?
No Way Out: Stimulus and Money Printing Are the Only Path Left
I wonder how many times the OP has changed the dollar amount in the subject heading ??!!
Not sure what you mean but if you mean phyiscal and paper buying of gold, yeah, my friend is a treasurer for one of the Top 10 banks and they are buying custodial gold for clients. A few private banks I worked for are asking me questions about gold coins for some of their HNW clients.
I can always tell when it is no longer early in a move....I get the emails about what gold coins to buy from the Saints, Liberty Head DEs, and modern bullion.
Unless someone is in the ultra-rich, they can get 5% exposure to gold with a few dozen or few hundred coins which is not a problem to store.
But I managed $$$ for a few guys where you'd need a mansion to store 5% of their net worth in gold !!!
Q - How do you come away from the stock market with a million bucks?
A - You start with 2 million.
Goldfinger, what's your take on the backwardation in silver and the spike in LBMA lease rates?
I knew it would happen.
Thanks, I think we all trust @MsMorrisine, we don't need the additional evidence.
I'll try to update it every $50 or so for now but at some point I'll have to change it to $100. I know people don't believe it, but we could easily see a run to ~$26k as soon as 6 months.
http://ProofCollection.Net
With all the celebration with gold price records it is important to realize what this means to the other 99% of your wealth.
No Way Out: Stimulus and Money Printing Are the Only Path Left
With all the celebration with gold price records it is important to realize what this means to the other 99% of your wealth.
Sadly, most people (including professional money managers will continue to believe that gold and silver are "too expensive" and will continue to hang onto their stock & bond portfolios while the Fed continues to pump money into the system in an attempt to keep it from evaporating.
It should be obvious what's happening by now, but the financial system's paper pushers will continue to thrash around in the markets with their imaginary keyboard money. Jim Sinclair was 100% correct - get out of the system.
I knew it would happen.