Will Gold Eagles Finish The Week Above $2,100 / Silver Eagles Above $34
Will Gold Eagles Finish The Week Above $2,100 / Silver Eagles Above $34 by Rory for The Daily Coin
UPDATE 5:08pm CST – Well, AGE’s are currently still above $2,100 going into the weekend. The banking cabal worked their magic and kept the chart from posting a round number on both gold and silver (this is my shocked face). ASE’s range between $33.93 and a whopping $36.36!!! Good luck over the coming few weeks in being able to add anything to your stack that doesn’t start directly driving your dollar-cost-average to the moon – assuming, of course, you can find it.
If you have been following our recent work you should’ve noticed we are not much paying attention to what the charts are saying about gold and silver. With both metals markets being proven to be rigged, manipulated and total travesty why report on lies – that’s corporate media’s job and we aren’t interested. Besides that, there are plenty of people who continually report on the rigged, manipulated and total travesty known as the COMEX, NYMEX and all the other so-called markets.
The disconnect between physical and the illusion called COMEX is only going to continue growing from here. Yes, they will get back in close alignment until they completely blow apart one from the other. We pray that day is sooner rather than later.
After checking several of the online dealers it appears that gold has breached, once again, the $2,100 level for a one ounce 2020 American Gold Eagle (AGE). This was the case as of 10:57am CST Friday 7/24/20. Will it hold until the end of the day when the nonsensical COMEX closes for the weekend.
2020 American Silver Eagles had breached the $34 level at approximately the same time as the AGE’s earlier today. If this holds going into the weekend, look out next week. There will be an explosion either far higher or an absolute smash to the downside. We believe this afternoon Friday 7/24/20 will tell-the-tale. If the metals are rigged back down, and we see ASE’s back into the high $20’s, which they probably will be, then next week will be another week of solid gains but nothing too explosive. However, on the slim chance this doesn’t happen we could easily see silver hit levels we haven’t seen in some time.
“Right now, there is nothing happening in the global economy that says you shouldn ’t own gold,” he said. “The market is completely overbought, but with this momentum, I think we could see prices climb another 10% higher before we see some significant profit taking.”
This week, 14 Wall Street professionals took part in this week’s poll, 11, or 79%, called for gold prices to rise. Two analysts, or 14%, predicted lower prices. Meanwhile, one analyst, or 7%, expected prices to trade sideways.
A total of 1,870 votes were cast in an online Main Street poll. Of these, 1,334 respondents, or 72%, looked for gold to rise in the next week. Another 317, or 17%, said lower, while 219 voters, or 12%, were neutral.
Both Wall Street and Main Street were expecting to see gold push higher for the current trading week and they have not been disappointed. As of 11:37 a.m. EDT on Friday, Comex August gold futures last traded at $1,893 an ounce, up nearly 5% compared to the previous week.
Gold is seeing its best weekly performance since early April as the market was recovering from the COVID-19 selloff in late March.
Looking at the market’s momentum, Eugen Weinberg, head of market research at Commerzbank, said that he would not be surprised if gold prices pushed to $2,000 an ounce by the end of next week. He added that it’s just a matter of time before gold hits that level.
Although gold looks a little overbought, Weinberg, said that the market is supported by strong fundamentals.
“I would not call gold a bubble just yet,” he said. “We still have trillion and trillions of bonds with negative nominal yields and this will continue to support gold.”
However, not all analysts are bullish on gold. Everett Millman, Gainesville Coins precious metals expert, warned investors that gold ’s rally could have gone too far, too fast. He added that current levels could attract profit-taking.
“I do think because we hit these highs recently market is due for market correction,” he said. “Unfortunately because the rally has been so strong and so swift the floor for gold could be as low as $1,800 or below that. We didn ’t have time to consolidate yet.” Source
We could also see silver never, ever return to the $17, $18, $19 levels again. Not saying that is the case at this point, but we are most certainly close to that day. We believe $15, $16 silver is gone forever. It’s just a question of how severe the banking cabal is prepared to expose their hand at this point. hmmm…Everybody keeps screaming about RICO and JPMorgan… okay, where is the case, who’s conducting the investigation and how many people are being investigated? I’ll wait here checking on the prices and availability of physical gold and physical silver while you gather the info.
Actually, does it matter if they expose their hand or not – has anyone gone to prison or even been investigated? A $6 dollar chart smash would push the needle back to the low $17 level. A $10 chart smash – highly unlikely – we’d be looking at $13 COMEX. The real question is – would the premiums explode to the upside and instead of having mid / upper teen’s on the ASE’s we’d looking at $40+ ASE’s and $2,300 AGE’s. You know where my bet is – $40+ physical silver if the COMEX crazies decide to push the needle down.
Got physical gold and physical silver close at hand?