Tue, 7 July 2020
Silver closing in on $18.50, key technical point. 5000 year high for the gold to silver ration. Now it’s back down to 95 and probably going lower. David is hoping for $20 silver. He’s not seeing confiscation as a possiblity. Perhaps at the ETF level. Perhaps the RobinHood Traders are jumping on the mining stock bandwagon, since they’ve been showing high momentum and big recent gains. At the latter stages of the rally, people will be buying anything with gold or silver in their name. Why hasn’t gold and silver gone higher and why haven’t the stocks gone higher. It’s very hard to analyze. Why did the metal not go higher when the mines were shut down? Is the absence of earnings enough to explain its under performance? |
Tue, 7 July 2020
Gold traded at 1776 over the 4th of July weekend. Jewelry demand in Asia has collapsed but gold ETF demand in the West is more than offsetting the decline. An Ohio city declares itself a "statue sanctuary city." Onion article: Cities are protecting their statues by renaming them all "Karl Marx." Chinese stocks are soaring as the government media tells people to buy, buy, buy! Florida and Texas new cases surge. Is a second lockdown coming? And is that a reason to short stocks or to buy them? Upcoming contest, "On what date will Ghislaine Maxwell get suicided in jail?"
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