iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,110 Blog Posts

Gold Busts Loose — Bigly Gains Dead Ahead

This is the move I’ve been waiting for — a fast paced spike accompanied by s decline in the dollar, accompanied by a massive spike in the miners.

Bear witness to my NUGT or SBGL or any number of miners up more than 10% today.

Today’s spike in gold coincided with a drop in the dollar, which was running into a buzz-saw of resistance. Truth is, gold was going higher anyway — with or without the dollar.

The dollar.

Yes of course gold is running into some traffic here too.

So what’s the play here? Is this time different?

Instead of weaving a narrative about inflation or asset allocators getting into gold, or sovereign wealth funds accumulating gold at a record pace, let’s just sit back and enjoy the ride — shall we?

The trend is up and the miners are very undervalued, based off historical norms.

I had no reason to sell today, so I didn’t.

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4 comments

  1. it is showtime

    If 2020 goes D, the 8000 dow pts have to come off, “haha”

    (it was merely tacked on as leverage on trump)

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  2. acehood

    Go for the jugular.

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  3. juice

    Jake’s Gint is even richer

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