Whatever the outcome of the Brexit referendum next week, it would appear that nothing can stop a systemic crisis developing in Europe. The two issues are unrelated, though Brexit could be blamed as a trigger. Brexit will come and go, but a European banking failure will remain with us, whatever happens on June 23rd.
Precious metals had a strong performance this week, so much so that Thursday gold soared through the $1308 level, long regarded as the technical point which confirms, once breached, that the bear market is over…
Can gold help this unmitigated disaster?
This card has been played successfully yet again, with the bullion banks first creating and then destroying nearly 100,000 contracts, lifting the profits from hapless bulls in the Comex market.
The fall in gold prices in May has less to do with a change in outlook for the gold price, and more with the way a casino-like exchange stays in business…
Alasdair Macleod Joins the Show From London for a Special Edition of Metals & Markets, Discussing:
- Physical Gold & Silver Market Update: How Is the PHYSICAL Market Responding to $2 Silver Correction?
- It’s Going the Other Way With A Vengeance: The Crucial Difference in Gold & Silver Markets Today vs 2015
- Alasdair Dissects a Run on Gold Bullion in the London Market
- Industrial Silver Panic Underway? The Experts Break Down News Major Japanese Electronics Firm Looking to Lock Up First Majestic’s Silver Supply
Doc, Dubin, & Alasdair Macleod Break Down the Action In This Holiday Edition of Metals & Markets:
Gold and silver had a down week, correcting some of their overbought condition.
It’s obvious that after a run up of $250 from the December lows, some price consolidation would be natural.
The consolidation so far has only been relatively minor, testing the 55-day moving average currently at $1250, with real support coming in at the $1200 level:
President Obama weighed into the Brexit debate on his recent visit to the UK, saying that if Britain left the EU, she would be at the back of the queue when it comes to a free trade agreement.
As for T-TIP, it is an ugly acronym for an unworkable arrangement, and it should be consigned to the trash-tip of history’s failed projects.
Silver continued its stellar run this week, trading as high as $17.60 overnight in Asia on Thursday morning, and in mid-morning European trade today was up 24.3% on the year, overtaking gold…