When it comes to the gold market 2024 has been a wild year. For example, COMEX gold swaps are now all-time record short the gold market. How this will resolve could be one for the history books if the swaps massive bearish bet goes against them and they are squeezed.
This just collapsed to the lowest level in 23 years. Plus a look at more “transitory”inflation.
Silver is now consolidating massive gains, but take a look at this…
Fear continues to mount that the US is on the verge of a major financial crisis.
What is happening with gold and silver is truly remarkable. A Golden Year For Gold: Central Banks Continue Stockpiling May 29 (King World News) – Gerald Celente: Gold’s price has rocketed up 33 percent since 2023 began, recently topping $2,450 an ounce last week. The surge in demand has not come from individual retail investors; gold-focused exchange-traded funds have seen net outflows of investment over the past three years. The big
Will this make investors a fortune in the gold market?
Gold is back above $2,350 and silver is surging $1.63 near recent highs, but here is the big surprise.
Look at what happens to the price of gold when the stock markets collapse.
Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals told King World News that the ultra-wealthy are now buying physical gold. This is what happens in phase III of a bull market.
Egon von Greyerz (EvG): Founder and Chairman of VON GREYERZ AG. Egon forecasted the current economic problems in 2002 (gold $300/ oz.) Egon recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system… VON GREYERZ AG is now the world’s leading company for direct investor ownership of physical gold and silver outside the banking system.