Stop making excuses for Gold. It isn’t money and its main attraction as being an alternative to fiat has been supplanted by crypto-currencies, which is backed by both investment banks and venture capitalists (you’re being played).
I find the spurts in Gold/Silver these days to be mostly random occurrences. However, when they occur while I am heavily long, it makes me happy.
It just so happens I have 10% of my assets in GLD and some more in RGLD — both nicely higher for the session.
Here are some other winners in the sectors:
Food for thought: the entire market cap for all of the publicly traded gold stocks in America is $130b. Silver is around $10b. The cryptocurrency market is now valued at $159b.
Last year today, the total market capitulation of the cryptocurrency market was ~$12b.
Not a bubble.
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JakeGint where are you comrade?
Da, comrade. Long $RGLD, til the apacolypse.
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When the shit hits the fan and we’re surviving the next zombie apocalypse with guns and fortresses, I’ll love watching people try to fire up their generators just to access their ‘wallets’ to pay for ammo. No thanks, silver will buy my bread.
I still think gold has more in the tank – OA disagrees bc I assume he sees the yen will start moving higher but if the market stages any sort of a real retreat gold where I want to be.
Brass, lead and lead styphnate are useful.
Gold still the old man’s hedge against dollar-linked inflation. Lagging the euro by a mile, crypto by a lightyear, but it seems to have some psych targets ($1500/oz) that could become quite relevant in the near future with further dollar destruction
When the US Dollar becomes worthless, Bitcoin and Gold will be at parity relative to the dollar. Both will be untouchable.
And bitcoin is transacted in…dollars. Good luck with that.
Da, comrades, long $RGLD until we meet in the Thunderdome.
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China and India moves the gold price.
China seams to have over taken Russia as a US threat.