#Gold & #Silver Wish You a Merry Christmas! Prices are breaking out on the upside - Now All We Need is a Confirmation!

#Gold & #Silver Wish a Merry Christmas to all of you!

 

Attachment 1 shows the breakout of Gold on December 24, 2019, from a falling wedge.

 

Attachment 2 displays Silver's second day breakout on the upside from a falling wedge.

 

The market needs closing prices for gold and silver above the breakout point for 2 more trading days to confirm that the bull market has resumed. 

#Silver stocks - Strong advance yesterday

 Silver shares did extremely well yesterday. A

nice Christmas gift!

 

We couldn't find any particular reason for the

strong advance. However, as attachment 1 shows,

the silver futures price was up % 1.6% to

US$ 17.50 per ounce.

 

There was a comment by former FED Chairman

Allan Greenspan on inflation (attachment 2).

 

The following is a list of silver (or so called

silver stocks). Most of these companies have

the majority of revenues from gold but the

market treats them as silver stocks.

 

Coeur Mining (CDE)                         US$  7.65 + 10.1%

Hecla Mining (HL)                            US$  3.26 +   8.7%

Fortuna Silver (FVI)                          CAD 4.82 +   8.6%

First Majestic Silver (AG)                 US$ 11.23 +  8.4%

Americas Silver Corp. (USA)            US$   4.14 +  7.8%

SSRM Mining (SSRM)                      US$ 17.55 +  6.0%

MAG Silver (MAG)                           US$ 11.14  + 5.5%

Wheaton Precious Metals (WPM)     US$ 28.50  + 4.8%

PanAmerican Silver (PAAS)             US$ 22.43  + 3.8%

 

and the largest silver share ETF:

 

Global X Silver Miners ETF             US$ 31.74  + 4.30%

 

The daily chart is on attachment 3.

 

Attachment 4 displays some stocks of the Philadelphia Gold

and Silver Index (XAU). All the stocks in the Table advanced.

Attachment 5 displays the daily chart of this index.           

 

The World’s Wealthy Are Hoarding #Gold - Physical not #ETF‘s

At least that's what Goldman Sachs says...

The Wealthy Are Hoarding Physical Gold

Via SchiffGold.com

The world's rich are hoarding gold – this according to data buried in a recent Goldman Sachs note to clients.

In the note published over the weekend, Goldman recommended diversifying long-term bond holdings with gold, citing "fear-driven demand" for the yellow metal.

Hedge funds and other large speculators boosted their bullish bets on gold by 8.9% through the week ended Dec. 3, according to government data released last Friday. That represents the biggest gain since the end of September.
 

The Goldman note cited political uncertainty and recession fears as the catalyst for the move toward gold. It also mentioned worries about a wealth tax, increasing interest in Modern Monetary Theory (essentially money-printing) and the current loose central bank monetary policy.

Data buried in the note also revealed that owning physical gold appears to be the preferred method to "hedge against tail events" by the rich.

"Since the end of 2016 the implied build in non-transparent gold investment has been much larger than the build in visible gold ETFs."