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Vlad_The_Impaler on scored.co
11 hours ago0 points(+0/-0)1 child
Gold and silver were down pretty big today (few percent) because the federal reserve just announced inflation numbers and interest rate numbers. I think market had a rate cut priced in and Powell held rates steady.
Also the DXY is high since the Iran war. So i think a strong dollar (because people need fiat petro dollars to buy oil) is also contributing factor to slacking gold and silver prices.
Gold and silver rallied a bit too much in january so it is in another one of those consolidation patterns that can last six months. Something similar happened last summer. Gold and silver moved sideways all summer then began rallying like crazy in September and october. Gold is easier slope up and to right, silver is more choppy.
Gold and silver are not perfect safe havens. I think i read somewhere that there's over 500 silver ounces in PAPER CONTRACTS for every 1 real physical silver ounce. Something like that. Meaning there's lots of jew contracts for gold and silver ounces that don't exist, or that are traded multiple times. This is why OG's tell you to just get the real physical gold and silver, don't buy the ETF's or phantom silver.
Also the DXY is high since the Iran war. So i think a strong dollar (because people need fiat petro dollars to buy oil) is also contributing factor to slacking gold and silver prices.
Gold and silver rallied a bit too much in january so it is in another one of those consolidation patterns that can last six months. Something similar happened last summer. Gold and silver moved sideways all summer then began rallying like crazy in September and october. Gold is easier slope up and to right, silver is more choppy.
Gold and silver are not perfect safe havens. I think i read somewhere that there's over 500 silver ounces in PAPER CONTRACTS for every 1 real physical silver ounce. Something like that. Meaning there's lots of jew contracts for gold and silver ounces that don't exist, or that are traded multiple times. This is why OG's tell you to just get the real physical gold and silver, don't buy the ETF's or phantom silver.