OTCPK:KRCLF - Post by User
Comment by
NineLiveson Jan 29, 2023 8:55am
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Post# 35252551
RE:This is the sixth week in a row that gold has closed higher
RE:This is the sixth week in a row that gold has closed higher A number of things propelling Gold.
Central bank buying, as they support their currencies with a liquid, tangible asset.
Implementation of Basel III, allowing major banks to use 100% of gold held towards capital requirements.
India to reduce Gold tax to put a halt to all the Gold smuggling going on.
Weaker USD allowing pent up purchasing.
Russia and China and others looking at gold as more a trading tool than a lump of yellow metal.
War and the fear of it escalating putting close countries at risk.
Inflation, if the unofficial inflation rate is 15% + then Gold would also rise that amount which it's done.
Demand for Gold is huge, yes there will be pullbacks but the general direction is still $2,000 plus. JMHO.