Russia buys 600,000 oz. of GOLD in May after dumping half of its US Treasuries in April. China owns 20,000 tons of GOLD and plans for a golden monetary order.
Good morning Steemian friends.
Please refer to the chart below and the news as reported by Boomberg and Reuters. Bottom line? Your patience will be rewarded all holders of the precious metals. I would not be too concerned with this latest seasonal weakness despite our hopes gold would have stayed above 1300 and recently 1280.
Asian nations are buying gold now as a protection against dollar devaluation.
Remember China has downgraded our debt to BBB+ and may dump our debt as well. They own now 20,000 tons of GOLD and we have (see our post on Dr. Stephen Leeb, Chinese economic expert) reported China will be pushing for a gold back monetary system.
Jeff Clark of Strategic Wealth Preservation alludes to the above chart. He also points out we have had 24 financial crises in the last 45 years. We have stated here the results of the TRUMP tradewars will be super bullish for GOLD and SILVER.
What we believe occurs by Sept. will be breathtaking, to say the least.
We will likely comment on the Dow Jones and our "Caution" of June 12 at 25,400, and Bitcoins lack of volatility and what are the implications very soon.
Thanks for your support!
Thank you for your continued support of SteemSilverGold
Do you think people will pile in cryptos when the markets crash?
It will certainly help. I am long term bullish on BTC..(see my post to come soon.) And Ethereum and of course Steemit! thnx.
Gold buy opportunity now or do you thing it may go lower short term?
We may go a bit lower short term, but it will prove insignificant longer term. that in my estimation is the dramatic up move to come. thanks again!!
I bought more silver bullion and I am simply waiting. No hurry.
I bought more silver
Bullion and I am simply
Waiting. No hurry.
- ronaldoavelino
I'm a bot. I detect haiku.
exactly!