Central Banks’ Gold-Buying Spree Reaches 50-Year High

Snip:

And as BCS Global Markets said in a note, the big range in analysts’ outlook for gold this year shows “that there is actually no consensus.”

However, there is one group of global ‘investors’ who are waving in those bullion trucks with both hands and feet – The world’s central banks…

Central banks bought last year the most gold in 47 years, with 651.5 tonnes (74% higher YoY). This is the highest level of annual net purchases since the suspension of dollar convertibility into gold in 1971…

https://www.zerohedge.com/news/2019-01-31/central-banks-gold-buying-spree-reaches-50-year-high

I kind of think we’re running out of a little steam in the metals, although the performance of the shares was really good today.

Best guess is that we get a short beat down back to the breakout in the HUI around 160 or so and a bigger drop in gold below $1300. That being said, the action is encouraging – to me anyway.

The cabal has their hands with a tight grip on the metals to keep the irrational exuberance to a minimum, I guess that’s why we see $2-3 moves up to start every morning instead of $10-20.

We’ll see what happens but I’m hoping the wind is at our backs. I know you are like me, we have miles to go before we get whole.

I have been holding a few shares from the $7.50 area. It may be a little risky to buy and hold at these levels. Straight up markets seem to shake the trees at some point. I can’t tell if this is a short covering rally or a change in trend.

rno

I wonder how much Gore and others made with ” latent” climate scares.

Are these Police departments MORONS  ?  Its wind chill 30 below and thats all they can advise to stop burglers ..”close your Garage Door “…

http://schrts.co/jdPxzzjJ

…closes on the high of the day.  looks good for tomorrow – and following.

I might be able to think about considering it if we can execute one elected official for every baby butchered.

rno

Ask Redneckokkie he has been long JNUG for a while and a very good call he made too..

I have NUGT and just hold it and know others who do the same with JNUG.

It ain’t mathematically perfect, but in a runaway bull, all boats float.

Wheres Al Gore’s Global warming when you need it   …RECORD COLD  this year    Maybe Al Gore will freeze his ass off and his hot head Democrat cronies that wont support our elected President .Ya know what comes around goes around …The DEMS  wont get support for thier pet projects either…No reason for TRUMP to send aid to budget busted STATES that vote in DEMS either ..

DO YOU SEE WHERE WERE GOING HERE.
How dare these leftists call themselves progressive.
What’s really behind killing the unborn to now born alive, Infanticide.
Hitler killed all children that had disabilities or deformities that can be treated more so today. Next he sterilized anyone who could possibly have a inheritable illness or disability like Multiple Sclerosis, deafness, visual impairment, learning disabilities, seizures, deformed limbs, cleft Palate, diabetes, sickle cell trait, and more across the board.
This then elevated to kill anyone they didn’t like. This needs to be stopped in its tracks. You can bet with DNA they will be after any one with genetic changes even if they can live with it.

In a move sure to unleash fury from the Trump administration, the European Union has announced it has set up a transactions channel with Iran to bypass US sanctions. The launch of INSTEX — or “Instrument in Support of Trade Exchanges” — by France, Germany, and the UK will allow non-dollar trade with Iran and is being described as facilitating humanitarian goods-related transactions only, including food, medicine and medical equipment.

https://www.zerohedge.com/news/2019-01-31/eu-launches-paris-based-instex-skirt-us-sanctions-iran

https://finance.yahoo.com/news/sokoman-reports-final-assays-phase-175200467.html

I guess those results weren’t considered up to snuff as the stock is down substantially.

I think your post from 7:46 this morning is spot on. I think it would be naive if we thought that the cretins have lost control of the metals. I will wait ( hopefully when I’m still above ground) for $100 moves in the metals before I truly believe that the Cartel has lost control.

Yeah gold is giving up some now. Nice to see us in a higher price range though.

A multi year bull market in gold would do wonders for my sanity! 🙂

Curiously the shares are outperforming the metals today. We haven’t seen that in many moons.

USD is stronger today and the metals seem tied to that but still hanging in there.

Is it time for the shares to lead?

Caused by the don nevertheless.

Considering the junior shares with bad liquidity … a time like this with some interest coming into the sector allows those who would like to sell the opportunity to do so … until they are exhausted.

Time for a new general

Can anyone tell me if JNUG , is just a day trade or can it be held for longer period.

Thanks in advance

GT

24-hour Spot Chart – Gold