Precious Metals Catch A Rocket Ship North!
Precious Metals Catch A Rocket Ship North! by Rory – The Daily Coin
What in the world just happened?
Could it be the global economy just hit an iceberg? Nope, already happened. Could it be geopolitical tensions on the rise? Well, if they got in any higher we would be engaged in a declared world war. Did the Federal Reserve Note, U.S. dollar collapse? Well, once again, that happened in 1913 with the signing of the Federal Reserve Act.
What could possibly cause the metals to spike north like this? Well, maybe the people at the Feds Trading Desk just stepped away for a cup-o-coffee and doughnut. Whatever it is, we hope it holds and continues to move north, as they should. We seriously doubt this hold but it provides a little hope for us gold and silver bugs. Our hope is the banking cabal won’t take back all the potential gains.
According to Rick Ackerman it’s a short covering frenzy sparked by a big juicy nothing burger
I’d expected the looming decision concerning Kavanaugh’s Supreme Court appointment to weigh on stocks in the days ahead, but Wall Street evidently couldn’t care less. The Dow was up nearly 200 points, taking its inspiration from headlines concerning Tesla (Musk has been ousted as chairman by regulators but will continue to run the company as CEO); GE (a new CEO, Larry Culp, has been chosen); and NAFTA (as expected, Canada has joined the agreement). None of these events could be described as world-shaking, but that doesn’t mean DaBoyz cannot use them opportunistically, as they so often do with unexciting news, to goad bears into a short-covering panic such as we saw on Monday. I expect the rally to continue for perhaps another day or two, given the bullish look of some key charts, including ones for AMZN and the E-Mini S&Ps. I still regard the bull market as overextended and filled with dangerous bravado, considering that America will undergo a wrenching change both politically and economically if Trump loses his majority support on Capitol Hill on November 6. He is in fact likely to be impeached if that happens, reversing the nation’s fortunes in ways that investors could no longer ignore. Source
Gold has come close to putting on a .50$ a minute while silver is moving up about .03 -.04$ per minute. Not sustainable unless the wheels have come off something that hasn’t been reported as of this publication. When I say the wheels have come off something – I’m referring to the bond market or dollar collapse – not a rehashed NAFTA agreement.
The first chart is LIVE and will continue to change.
The charts below are static to show what we are talking about when you come back to this article in a few days.