And They’re Off Or Are They?! Metals Begin the Year Racing Higher
And They’re Off Or Are They?! Metals Begin the Year Racing Higher by Rory for The Daily Coin
The first Sunday night of 2020 precious metals trading opened with a massive upsurge in both gold and silver. Gold jumped up $1,580+, about $35, while silver climbed up to the $18.45+, about 0.45$. This of course was due to all the noise surrounding Iran, Iraq and Washington, DC. The neocons are winning while the world is losing and precious metals are gaining.
We see this momentum as merely the beginning of a much larger gains throughout the year. Don’t be surprised to see gold breach $1,700 before years end. We’re not saying it going to happen, we are saying it is within the realm of reality. Don’t be surprised to see silver breach the all important $21.25 mark and then jump ahead from there. Once again, not saying it’s going to happen, saying it is well within the range. What is happening right now is a great sign, in the metals markets, of things to come. Not such a great sign in the broader picture, especially, the global outlook.
The charts below, which are active and will continue changing, currently show what happened the minute the markets opened on Sunday January 5, 2020 – spike straight up until someone decided they had seen enough and pulled the plug on the market going to the moon.
As you well aware this is not surprising nor anything we haven’t been calling for over the past two years, the only difference is the catalyst. No one can see the future, but we can watch what is happening, review the past and combine it with experience and usually reach an educated projection. With gold and silver being rigged to the point of strangulation, it makes it more of a challenge, but when you see the mining industry collapsing – the very industry that creates the market – well, it makes it a little easier to see what is coming. You combine that with a couple of unknowns, like the coming of a nation, and what you get is what happened on Sunday night and even into Monday morning.
At this point the only question is how much of these gains will the cartel allow to stand? My guess is not very much as it would signal to the world there may be other problems that need attention, so we look for a beat down to come in 3,2,1… or by weeks end. Of course, if this situation continues to build with more bombings, elevated tensions and some other bad news, like economic, well, we could see the cartel having to stand down for a minute longer than they like.
Either way, we don’t like what is happening in the Middle East, we do not approve of President Trump, not only, failing to bring the troops home but continuing to allow the neocon warmongers to run our foreign policy. Hire Tulsi Gabbard already and end this nonsense and bring the troops home like you promised.
In the mean time, as we recently pointed out in The State of Physical Gold and Silver in 2020 now may be the best time during 2020 to acquire some phizz. If there is going to be a pull back from here, and we see no reason for there not to be, it may be a good time to act – we most certainly will – as the metals are only going higher from here. By years end we may look back and shake our heads in disbelief that we didn’t acquire more at such low cost.
Static charts to capture the moment. All charts are courtesy of KitCo News
We began writing this at approximately 8:15am CST. The cartel had already moved in before we could even get the piece published! We knew the criminals were in the wings, we just didn’t think they would act so quickly and viciously.