Loading ...The newsletter I just got also suspects this is it. “July 2018. The lowest level of positive opinions towards Gold on record”. “Paradoxically, so bad its good”.
A good Brake Job these days on the car can go over $1200. Since when is a brake job equal to one ounce of pure gold? Property taxes around here are common $12000/year. Ten ounces a year? For tax?
When people buy gold, and take possession, even if it’s jewelry in India, it’s the same as a withdrawal of cash from your local bank. They can NOT let people think they can’t get their cash out when they want to.
Its got to be the same with Gold and central banks and bullion banks re Fed Notes converted to gold. They must lower the Gold prices when they want people to chicken out and sell gold.
When they want people to redeposit it, bring it back, they raise the prices and all the scrap jewelry goes to smelters and back to the banks. That’s my guess after talking to redemption stores and jewelers.