As far as the timing on that goes, it might pay to keep an eye on the gold price. It’s been under pressure lately, at least in US dollar terms.
Aussie gold stocks have outperformed strongly during the market’s recent convulsions. They are a great hedge in times of increasing economic uncertainty like we’re in now. The bull market conditions are set to continue for gold. The Aussie dollar gold price is approaching $1,750 an ounce, the highest price since mid-2016 and enough to fatten most well run gold miners’ margins.
First India wages a war on cash. Next, the government is priming the people to hand over their gold. They call it ‘improving financial literacy’.
I argued for some time now that there is a war on cash. That the government is ushering us to digitise our assets to lock us into the banking system.
When it comes to precious metals, most people only think to buy gold. On this particular day, I was after topping up my silver holdings.
Today I’m going to take a look at the gold price. It’s dropped off the radar a bit lately, despite the yellow metal having a pretty good run so far in 2017.
China has been buying thousands of tons of gold even as they sell US Treasury bonds to pay offshore creditors and prop-up their currency.
If you’ve ever traded gold, you know how wild the price swings are. Here, Jim has laid out the key events behind the gold price for 2017.
If we see a gold price bounce towards the US$1,205 level, expect the promoters to shout that ‘the gold correction is over’. Don’t believe them!
When the price of gold is measured not in dollars but in rubles, yuan or rials, the percentage price increase in gold is even more impressive.