Gold has breached $2,080, and silver just tagged $29. Here’s why….
UPDATE: THURSDAY AFTERNOON, 3:30 PMish (EST), AUGUST 6TH, 2020
(by Half Dollar) Gold & silver continue in their spectacular rallies, especially silver.
Yes, silver’s technicals on the daily chart are screaming ‘extreme’:
But if you believe the price of silver has been suppressed, then how exactly can you quantify what is, or is not, “extreme” about silver’s technicals?
Regardless, the market “wizards” are coming out of
retirement the woodwork because as much as they’d love to avoid honest money, right now, with silver’s spectacular rally, they simply can’t:
Do you even retire, bro?
Now we know why they had to pound silver as low as it could possibly go back in March:
Silver is, after all, up over 142% since the spike low “sell-off”.
Let’s see what the mainstream financial press has to say about silver’s impressive gains:
What, you didn’t expect the MSM to accidentally trigger an HFT Algo on the buy side, did you?
Of note, the dollar is falling, yes, but not spectacularly:
What would happen if the dollar index begins crashing?
Craig Hemke and I discussed that, and other things, in a robust discussion on Tuesday, August 4th:
If you have a stake in the US Dollar, gold, silver, fiat currency, and more, you may want to give that interview a listen if you have not already!
Gold looks to be making a run at $2100:
Consolidation has been brief, and only over very short periods of time and with very shallow dips, if at all.
And to think, the world doesn’t even have gold fever yet!
If you thought Americans went crazy over freakin’ toilet paper in March, just wait until they see their dollars vaporizing in front of their very eyes!
The paper gold-to-silver ratio is now in the lower 70s:
In my article for the best bullion dealer in all of North America yesterday, I think I put it like this: Are gold & silver now in virtuous cycles of confirmation and re-confirmation of each other’s move higher?
Silver just tagged $29:
If the cartel could prevent this, they would.
Yesterday, the US Mint came out with this little bit of propaganda (Or, folks, it’s getting real and the Deep State Globalists are beginning to panic):
You’re wrong, US Mint.
It’s not a “circulation problem”.
It’s called, “Gresham’s Law”, and it’s telling us that we’re at the point where even the crappy clad stuff is worth more than the “money” that Fed Head Powell said back in May with regards to how it comes into creation – “we print it digitally.”.
As for the $64,000 question, what is causing gold, and especially silver, to continue in their spectacular rallies?
Read below and you will see no less than three reasons.
I don’t have time to explain the other 997.
END OF UPDATE
(by Half Dollar) Gold & silver continue their relentless drive higher, and it’s gotta be driving the chart huggers crazy!
I just wrote a Wednesday Market Report article for the best bullion dealer in all of North America, and I’m not even sure if it’s live yet on their website, so don’t tell them it’s posted here as screenshots, but this is what I said (go check out their website later for the entire article with all of my usual charts):
Buildings across Beirut, Lebanon are damaged the morning after the #BeirutBlast. Much of the port was also flattened when the explosion sent a giant mushroom cloud into the sky.— Bloomberg QuickTake (@QuickTake) August 5, 2020
More than 70 people were killed and 3,000 injured, with bodies buried in the rubble, officials say pic.twitter.com/qLaGEm8sJL
Here’s Trump saying it’s an attack and a bomb of some kind:
And some charts:
Shameless plug time: Craig Hemke and I had an awesome discussion yesterday afternoon:
Thank you for your consideration!