Yes and going to go MUCH lower >>>
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This is the article I read that really made me dubious of cryptocurrencies, and it seems they are being outlawed more and more:
https://crypto-anonymous-2021.medium.com/
Gold US$1899 overnight, looking strong.
I notice that the London Exchange seem to consistently be the party poopers, while they are open the price weakens..
Any opinions or theories on why that is?
Time to bail out of gold miners or buy some more?
I guess the process might be, "if" central banks raise interest rates in a meaningful way, the economy crashes and gold goes up again once the money printing starts increasing to save the economy. Maybe sell now and buy back in when interest rates head down again?
#Gold has been selling off despite #inflation data that's much worse than expected because investors also naively expect the #Fed to successfully contain inflation before it becomes a problem. Gold will surge once investors finally figure out that inflation can't be contained.-Peter SChiff
Basel III revaluation of gold to tier 1 asset on 28 June not far away ... how this prices Gold going forward will be interesting
https://seekingalpha.com/article/443...gold-investors
I did recently dumped the last of my OBM holding after the demand for more funds I now see Hawkspoint selling down a few shares ... they hold like 40% of OBM >>>
reduced my CNB/MAG position last week ... have moved portfolio towards Energy play CUE ...+ BBUS (short on the SP500)
still holding WWI + LCD as my pure Gold plays with CNB MAG AGC LRS having other base metal projects ... prob least amount of Pure Gold plays on the portfolio I've had for over a year.... see how the 2H21 plays out will prob keep my portfolio mix to less than a third pure Gold plays....
PGM getting crushed overnight pure paper trading Palladium supply is very tight yet the price dropped 11% overnight >>>
Will try and take some of my POD profits ..but could be crushed like CHN will be today ...
No winter ski holiday for me this year paid for from gold speculations, sadly.
The people still banging on about gold are generally like Peter Schiff involved in buying and selling it.
Although lots of commentators still recommend some as an insurance policy against armaggeddon.
Fuel costs heading up, possibly interest costs heading up (unlikely) a couple of big inputs for miners getting more expensive. Who knows prices move up and down.
Peter Schiff is honestly one of the biggest weasels of all time... He barely knows what he's talking about...