Why is Gold and Silver Jumping For Joy?
Why is Gold and Silver Jumping For Joy? by Rory – The Daily Coin
Did I miss some important news article that has caused gold and silver to ramp up this morning? I understand Yellen the felon made her annual noise last week and raised Fed Fund rates for the third year in a row, but is that what’s driving gold and silver today? Aren’t these two metals suppose to be moving to the downside due hedge funds pulling the position to file a loss for the year? That’s the nonsense we are usually told this time of year when the metals are moving down.
Could it be the drop in durable goods just reported for November or is it gold and silver warming up for a nice run in 2018 and simply getting a head start? It may have to do with the petroyuan contract being loaded into the starting gate. If you haven’t yet listened to Alasdair Macleod and Craig Hemke this move may be related to the conversation about moves being made outside China but related to the launch of the petroyuan. Well worth your time and you can listen by clicking here
Whatever it is, I’m grateful to see something positive happening with the metals and giving us few gold and silver community members a shiny early Christmas present. At the end of the day we will never know what caused this ramp up and as of right now it doesn’t matter we are just basking in the glow of a nice “pop” to the upside.
Let’s see if the banking cabal allow it to stand and if so for how long. Hopefully, the metals will end the day on a positive note and carry it into next week after the market reopens.