Here is a look at gold buying in Asia, plus the gold mining stock bull market.
Email From KWN Reader
April 23 (King World News) – Email from King World News global reader Haydn J: Interestingly…..the currency in Thailand and the unit that gold is measured in are both called the [Thai] baht. Drawing the conclusion that in ancient Thai thoughts they were always one and the same.
33+ baht to the $US and a baht of gold is just under a ½ ounce pure.
I left Thailand on 21 February and the gold price was approximately 45,500 per baht. I am returning tomorrow with money to buy some more and you are telling me to expect 53,000.
I am personally 90% (of savings ) in gold bullion as that represents the level of my faith in where this is all going. I am though reminded of previous commentators words that you should be careful what you wish for. If this continues and accelerates the world we live in will not be a pleasant place; assuming it isn’t already.
Keep up the good work; always enjoy listening to Alasdair Macleod’s sage words.
Best wishes
Haydn Jones
Gold & Miners
Graddhy out of Sweden: Odds are now high for that gold has topped for the weekly cycle.
Been sharing this chart for the gold miners index HUI now for 2.5 years.
I’ve been saying all long – It WILL play out. And the longer you doubt that, the more you will miss the only boat.
Posted a chart at [HUI] 280.00 at the blue backtest. It then bottomed only 4 days later at 271.46. Then had a very strong move to now at 397.58, a 41.9% move, for the index!
HUI Gold Mining Index Surged 41.9% Before Pulling Back
I do hope you have made the most of it.
Confirming The Mining Stock Bull Market
The higher high after the breakout high confirmed that the blue massive, historical breakout was real. And now it has a higher high above 2020 high, which means it has now yet again confirmed the larger uptrend and the bull market.
Many are now worried that miners are not outperforming metals big yet. But it is not unusual for metals to take the lead up from big lows. And when the wall of worry really lets go, we will see 8-10% up days for GDX and 10-15% up days for SILJ.
Shocking Events Unfolding In China’s Gold Market
Last week was simply a pre-Easter pause in dollar selling by foreigners after the shock of the previous week. It’s hard to think otherwise than that the slide in the dollar and the systemic squeeze on gold is set to continue and that it is just an early warning for what is yet to come…to listen to Alasdair Macleod discuss shocking events unfolding in China’s gold market CLICK HERE OR ON THE IMAGE BELOW.
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