Gold pushing new all time highs despite broad hatred in the US, higher dollar, and tighter dollar US monetary policy expectations suggests the surge in demand is from abroad, particularly China.
Gold price is rising even as US ETF assets keep falling: pic.twitter.com/MmJcKVku3V
— Bob Elliott (@BobEUnlimited) March 5, 2024
Gold price rising despite miners being pretty unloved in the US equity markets… pic.twitter.com/1omcQY5d6C
— Bob Elliott (@BobEUnlimited) March 5, 2024
Gold pushing new highs despite long end real yields remaining at multi-year highs. pic.twitter.com/jGLNNB1Lyk
— Bob Elliott (@BobEUnlimited) March 5, 2024
How can it be pushing new highs despite being so unloved? Simple – foreign demand. We already know foreign central bank demand for gold has been incredibly strong the last couple years, and odds are this is continuing into early ’24. pic.twitter.com/wEWm5nc59x
— Bob Elliott (@BobEUnlimited) March 5, 2024
Also seeing the Chinese onshore gold premium remain quite elevated despite being a bit down from all the noise late last year. pic.twitter.com/vhr49MFXLJ
— Bob Elliott (@BobEUnlimited) March 5, 2024
In many ways, we may be seeing in the gold market the state of *Chinese monetary policy* is much more impactful than that of the US, even in dollar terms. While US rates have remained high, Chinese rates have fallen a lot… pic.twitter.com/3g9cOQOwTy
— Bob Elliott (@BobEUnlimited) March 5, 2024
The dynamics in China and the pressures on global central banks to diversify are all pretty strong forces that underpin strength in the gold market. But appreciate will be softened by the continued hatred of gold in the US market.
— Bob Elliott (@BobEUnlimited) March 5, 2024
Risk of course is that the bond market gets spicy on the long-end and starts to rise further leading to stronger dollar and tightening USD liquidity.
That’s why the best risk/reward trade is likely gold vs. bonds rather than outright.
— Bob Elliott (@BobEUnlimited) March 5, 2024
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$ 4- 6 trillion U.S. being MONETIZED ( on an annual basis) will do that to the demand for gold.
If you think gold is on a tear wait until silver launches.
It will NEVER pass gold.
If you want to LOSE money, invest in Gold ETF’s !,
Or Bitcoin.
All exit’s are shiny
Peter Schiff’s theory is that foreign central banks are buying gold (but not silver) as part of their de-dollarization, while retail investors are selling gold and buying Bitcoin (or crypto ETF’s). His theory further says that despite hitting new highs gold SHOULD be higher but for the fact that retail American buyers are being talked into selling their gold and crypto by people like Mark Cuban. At some point either crypto will falter or inflation will become more pronounced and retail buyers will go back into buying gold – which – coupled with continuing buying by foreign central bank will drive it to new highs.
The other part of his theory is that while gold mining stocks have been going down lately (due to retail investors selling them to buy crypto), whenever gold gets new retail buyers (not just central banks), gold mining stocks should also go back up – way up. Of course, he runs his own gold fund that invests in gold mining stocks.
He also think silver should eventually go higher for basically the same reasons.
Anyone listening to Cuban’s advice is a complete idiot… Chip
Gold is infinitely more real than Stocks or BITC. Stocks are kept afloat by “illegal” govt QE debt buying stocks directly – funded by taxpayers and benefitting Deep State Fascism. If you are in the fake market which for the first time in history has ZERO to do with economy or company prospects (as long as you stay in an index) you need to take whatever you have in market – and run. When interest rates are only factor moving stocks up fast or slow (never down) we are in a deep state of shit.
Now add that Gold is kept submerged by “illegal” selling of freshly made-up paper gold.
Silver:Generational Treasure for the Common Man
Hard to carry more that a couple thousand ounces though. Get silver for barter. Gold for wealth preservation… Chip
Without a doubt Buddy…but the common man doesn’t have wealth…but still can switch from spending $5 a day at Starbucks and buy five or six ounces of Silver a month.
Yes,the smalls add up!
Due to the Multiple Bailouts in the Trillions That Have Caused ‘Hyper Inflation’ With Most Everything Having Doubled in Price.!
Yeah. I’ve encountered that hatred before. I was fired from IBM shortly after making it known I am enamored of bear markets. Ironically, this was immediately prior to the dot com bubble pop. Those fuckers KNEW they were headed for a train wreck and their response? Throttle up and throw out the brake handle. They couldn’t handle my schadenfreude.
Good riddance to bad baggage.