New All-Time Highs For Gold

129
Sun, Jul 26, 2020 - 11:05pm

Sabbatical or no, this historic event deserves its own thread.

It has been a long eight years...but here we are...with new ATHs in both front-month futures and spot XAU.

Congratulations to all of you...for your persistence and for your willingness to remain on this journey, through thick and thin over the past eight years.

TF

p.s. Comex Digital Silver is having a nice evening, too, and just flew through $24. More in the morning.

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  129 Comments

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musicmaker99
Jul 27, 2020 - 6:46am

Silver

Silver looking like it wants to pop to 26 here. Wouldn't be at all surprised.

JohnnyArrowmaker
Jul 27, 2020 - 6:44am

C'mon guys, prediction time ....

Biggest winner of the day will be ......

I reckon Discovery metals.

Any better offers?

JohnnyArrowmaker
Jul 27, 2020 - 6:42am

11:30am GMT update and

if gold keeps going like this, it may even break the $1980 / $2000 barrier without stopping. It didn't even blink going past the previous ATH.

GDXJ (euro UCITS version) up nearly 6%. Fingers crossed for the miners opening in Canada and the US in two to three hours time.

Gold spot leading futures by $3, silver spot trailing futures by (a reducing) 15c.

Scrap silver on eBay US still available at 20% discount due to being listed before silver's jump up, and sellers not aware!

Bullion Banks Bankrupt now, but they will take their physical gold first before the customers, and pay them paper.

Just can't wait for the Robinhooders to get online and up to speed. Did Trump and Dave Portnoy agree to front run Au & Ag when they met last week?

EarlGreyMNGold
Jul 27, 2020 - 6:39am

behind the scenes..

Re gold and silver, it feels like the fall in USD is not the full explanation. Something must be going on behind the scenes that only close insiders know. Bank failure?? China pulling the rug on the dollar?

— Alasdair Macleod (@MacleodFinance) July 27, 2020

hmm does feel like something is going on?

hopefully nothing this bad

MNGold
Jul 27, 2020 - 6:33am

miners

With the miners performance having lagged the metal recently, one might think they have some catching up to do with this resounding move by gold/silver. Should see some 10-20% moves by some names. We'll see...

pc
Jul 27, 2020 - 6:20am

Fed wants higher gold price to engineer the debt reset

H/T Luke Gromen: As the Fed buys low grade credit papers they risk becoming insolvent if these debts start to default. To remain solvent they will then have to keep rising the gold price to compensate on the asset side of their balance sheet. Ultimately they can engineer a credit reset by buying all bad US debt and write it off, and simultaneously raise the gold price to compensate.

gfmavens
Jul 27, 2020 - 6:16am

mavens

Sounds like a good idea - I'll do it too.

Excaliburrobobrewer
Jul 27, 2020 - 6:13am

Smash

Maybe the Fed wants gold to run to show that they have the power to create inflation, and they can indeed slay the deflation beast. Thanks to Jeff Snider.

chinaussiedoll
Jul 27, 2020 - 6:06am

Thank you TF!

It's been a long ride from The Watchtower days, the big smash down and the long slow grind back. Your girls are now young women heading out into the world. Thank you for the years of service you have provided !

robobrewer
Jul 27, 2020 - 5:35am

Banking Cartel still hasn't weighed in yet:

So, will they attempt a smash? If so how low can they realistically drive it and for how long with dip buying? I'm salivating at the opportunity.

I'm expecting the seemingly most common, London/COMEX tag team Goonfest.

On Friday, I felt they could smush Silver down to $20.95 but that seems like a tall order now. Anything under $23 would be gravy for me after taking profits at that price on Thursday.

$1 down seems like a pretty safe assumption when looking back at last week. If they are particularly desperate can they drive it down further? What about tomorrow?

IMO, until we see the Cartel obliterated into bankruptcy we can't underestimate them.

Thankfully, any smashes will be a breeze to ride out.

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