Gold Continues Moving Higher, Will It Hold?

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Published : June 24th, 2019
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Category : Gold and Silver

We ask “will it hold?” a lot for the simple reason / fact that we have seen, for the past decade, vicious take downs by the bullion banking cabal. Sunday night has been a favorite to commit their crimes.

The trading began on Sunday evening and with gold and silver both moving in an upward fashion and gold quickly jumped up about $8, reaching $1,407+ at approximately 9:30pm EST. Silver, on the other hand, has not been enjoying the same type of attention as gold. While silver has been moving to the upside it is behind the Thursday June 20, 2019 close and failed to move higher, thus far, on Sunday night. This may change in the next few hours but it’s highly unlikely.

We have had opportunity to report, very steadily, over the past two weeks on gold and silver as the action in the markets has been lively and note worthy. This is all simply laying the foundation, as we have been saying, for the movement of both metals to much higher ground. We have been on record, and will continue to be on record, stating gold will breach the annual average high of $1,669 in the coming 18 months.

We also believe silver will be following golds lead and moving to much higher ground. We are on record as stating we believe silver will be in the mid $30’s in the same time frame as gold will be setting new records. Don’t be surprised to see silver much higher than the mid $30’s but that’s what we are sticking with for the moment. We now have others jumping on board stating gold will be much higher in the next 12 months.

Gold prices have surged this month, passing $1,400 (Dh5,142) an ounce for the first time since 2013.

It’s become easy to find reasons to be bullish. Everything from dovish central banks, technical indicators, negative-yielding bonds and fears of a military strike between the US and Iran are all working in favour of higher bullion prices.

“There has been a dramatic change in sentiment,” said Adrian Day, president of Annapolis, Maryland-based Adrian Day Asset Management.

Citigroup said on Thursday that the enthusiasm is justified, with $1,500 to $1,600 an ounce possible in the next 12 months under a bullish-case scenario that includes borrowing costs falling below zero. Strategists at Australia and New Zealand Banking Group joined the club on Friday, saying gold will remain a “highly relevant” portfolio diversifier. Source

So maybe we are crazy for claiming both a date and amount but we have been saying this for some time now and we are sticking to it. What will happen if we miss the date by a few months or the amount by a few Federal Reserve Notes? I am betting heavily on both metals moving to much higher ground and I sleep perfectly well at night.

We don’t the situation as this means our monetary system will be gyrating and the trouble our economy is in will be more apparent to more people. Gold is a measure a health, a thermometer. When gold is rising the economy and currencies are falling. While those holding gold and silver will be able to protect their wealth our friends, family and neighbors will be losing purchasing power at a tremendous rate. Got physical close at hand?

Source : thedailycoin.org
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Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few.
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