Gold and Silver should Hold a Great Bid TodayI for one am a firm believer in manipulated markets where true price discovery is few and far between. Ultimately the crooked banksters will run out of ammunition to intervene in the pm markets and true market factors will take over.
PMs and Bonds should stay well bid heading into the weekend. It wouldn't be prudent to be short these markets with the Chinese markets re-opening on Sunday night and not sure of the news flow that could take place over the weekend.
The one main datapoint released today was the Chicago PMI and it was a disaster!!
We should get news next week regarding the first gold poor along with 2020 guidance.
The one thing that will continue to drive PM markets over the next years will be money printing/global debt and lower interest rates. The two components that will keep this Ponzi scheme going for a little while longer before it blows up.
I bought another 8000 shares this week on the dip and will continue to buy discounted miners and metal especially silver. Buying opportunities like this don't come around that often. We are witnessing the biggest PM bull run of recent times and it is only now getting underway!
Exceeding the all time high in gold - $1923 - may be possible this year.
PikKid