General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMeanwhile GOLD breaks thru the $2000/oz level, establishing a NEW record and silver is at
a 7 year high. Why does this matter> People are reacting to what they see with the coming economic instability. This is the silence before the storm.
onethatcares
(16,165 posts)going to take slivers of silver and gold for grocery payment? Will they assay and pay spot and what will they give change in?
Budi
(15,325 posts)COMMODITIES
https://asia.nikkei.com/Business/Markets/Commodities/Gold-soars-to-all-time-high-as-dollar-dive-refuels-record-run
Gold soars to all-time high as dollar dive refuels record run
Silver also jumps on US-China row and expectations for central bank stimulus
Gold prices jumped to record highs on Monday as an intensifying U.S.-China row hammered the dollar and cemented expectations that central banks would continue pumping out stimulus to ease the economic pain from a worsening coronavirus pandemic.
With the dollar substantially weaker, "a lot of funds are moving into gold right now," said Edward Meir, analyst at ED&F Man Capital Markets.
"And as long as the (virus situation) gets worse, the market is discounting more stimulus for a longer period of time and in bigger quantities, and all of that is bullish for gold," he added.
The dollar fell to a near two-year low versus major currencies as a standoff between Washington and Beijing showed no signs of abating with both sides ordering the closure of consulates in Chengdu and Houston.
The COVID-19 outbreak also continued to worsen, with more than 16.13 million people cases globally and 644,836 deaths, driving expectations of more stimulus globally to ease the economic blow.
Gold tends to benefit from widespread stimulus since it is considered a hedge against inflation and currency debasement.
MORE...
Is THIS another reason why Trump will not slow the viral pandemic in the US?
Someone's profiting! And its not the average American.🤬
ansible
(1,718 posts)I've found gold flakes literally right next to the highway to Yosemite, there's still gold in dem hills 'ere.
uponit7771
(90,335 posts)MineralMan
(146,284 posts)Buy high and sell cheap, eh?