As we kickoff the new year, the gold floor keeps rising as the gold market may finally be poised for big gains in 2022.
Gold Floor Keeps Rising
January 8 (King World News) – Fred Hickey: Gold up against many headwinds-tough Fed talk, threats of rate hikes, tapering, and QT, relatively strong dollar, 10-yr rising, and little interest in gold from U.S. & UK institutional investors (2021 2nd highest outflows from global ETFs on record – all due to US & UK) yet still near $1800.
Gold $1793 with GLD ETF only 979 tons.
Looked back when it was that level in past.
Apr 3, 2020, GLD 979T, gold $1615.
Aug 5 2016, GLD 980T, gold $1340.
Even without US institutional buying, gold “floor” keeps rising. Why? Overseas physical buyers understand the mess CB’s put us in.
If Fed follows through with tough talk and actually raises rates/implements QT, Fed-levitated bubble markets will crater (again -happens every time Fed tries), sending US institutional investors back to gold, but this time gold’s starting “floor” is far higher. How much higher? Lots…
Billionaire and mining legend Ross Beaty, Chairman of Pan American Silver, just spoke about what he expects to see in the gold and silver markets and also shared one of his top stock picks in the mining sector CLICK HERE OR ON THE IMAGE BELOW TO HEAR BEATY’S INTERVIEW.
Gold Poised For Big Gains In 2022?
Eric King: “James, many people are frustrated. They wanted to see a stronger start to 2022, but yet gold is somehow hanging on to that $1,800 area.”
James Turk: “Here’s the assumption that I’m working on, Eric, that we saw the low in gold on December 15. We then had an up-move as the year closed for a variety of reasons, including all of the inflationary pressures that we are seeing in the economy. Now this past week we are getting a bit of a correction — the first test of that December low. And then I think we go higher from here. It’s interesting because if you look back over the last few years, there have been important lows in December. December of 2015 was of course the major low. We also saw a low in…to continue listening to James Turk discuss why gold may finally be poised for a major up-move in 2022 CLICK HERE OR ON THE IMAGE BELOW.
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