Next great investment: Gold and Silver

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pro analyser

EOG Dedicated
With gold at an all time high(2200)Silver is 25.5 a 86-1 ratio. Typically the ratio is 42-1 but central banks have manipulated the silver price for over 40 years creating a physical shortage, With the Brics taking advantage of the low price to accumulate gold, and the shanghi gold exchange trading silver at a $2 premium to the comex, I expect big things out of both gold and silver going forward. The next Brics meeting is in Russia in October, with rumors of a Brics backed currency backed by commodities.
 
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pro analyser

EOG Dedicated
Silver was up to 29.79 and gold 2431 before the crooked banks smashed it big time. Silver finished the day down to 27.88(2 oz swing) gold smashed down to 2344. The central banks are buying gold at record amounts,making it harder to smash the price,although successful today. With gdp,unemployment, and inflation highly manipulated, to appear all is good,why have bezos,dimon,and zuckerberg all cash in, great amounts of stock. I look for a big crash and recession after the election, and inflation accelerate. Ask yourself why hasn't powell increased rates rather than mentioning cuts when everything appears good. The 34 trillion deficit will play havoc,eventually crashing the dollar.
 
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MrTop said:
silver getting buried today..3%

maybe buy the dip? i have silver and gold for many moons
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Silver will have plenty of down days as nothing goes straight up. https://www.mining.com/web/jpmorgans-most-prolific-spoofer-gets-two-years-in-prison/
JPMorgan, the largest US bank, agreed in 2020 to pay $920 million to settle the Justice Department’s allegations against it — by far the biggest fine by any financial institution accused of market manipulation since the 2008 global financial crisis.
 
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pro analyser

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In June 2024, Saudi Arabia is expected to announce that it will cease all oil sales in US dollars, marking the end of the 50-year Petrodollar Pact signed on June 6, 1974, which expires on June 9, 2024.The decision not to renew this pact stems from Saudi Arabia's recent invitation to BRICS and its move towards dedollarization.Crown Prince Mohammed bin Salman has informed the Saudi government that the country will no longer accept US dollars for oil transactions.
This shift includes considerations to accept other currencies, such as the Chinese yuan, for oil sales, as reported by the Wall Street Journal on March 15, 2022.
 
M

MrTop

EOG Master
pro analyser said:
In June 2024, Saudi Arabia is expected to announce that it will cease all oil sales in US dollars, marking the end of the 50-year Petrodollar Pact signed on June 6, 1974, which expires on June 9, 2024.The decision not to renew this pact stems from Saudi Arabia's recent invitation to BRICS and its move towards dedollarization.Crown Prince Mohammed bin Salman has informed the Saudi government that the country will no longer accept US dollars for oil transactions.
This shift includes considerations to accept other currencies, such as the Chinese yuan, for oil sales, as reported by the Wall Street Journal on March 15, 2022.
Click to expand...


a few weeks back...saudi expected to get a new security deal..it has something to do with israel though..so their oil will be sold in dollars...that is why oil went down...oil could really go up if saudi balks on israel
 
M

MrTop

EOG Master

U.S. to Offer Landmark Defense Treaty to Saudi Arabia in Effort to Spur Israel Normalization Deal​

The White House is trying to keep broader regional diplomatic efforts going amid months of fruitless cease-fire talks between Israel and Hamas​



The Biden administration is close to finalizing a treaty with Saudi Arabia that would commit the U.S. to help defend the Gulf nation as part of a long-shot deal to encourage diplomatic ties between Riyadh and Israel, U.S. and Saudi officials said.



wsj june 9
 
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pro analyser

EOG Dedicated
The cot report shows how massively short the commercial banks are. (Under commercial) This current selloff is them driving the price down,getting the large specs to sell based on moving aver. They need to get out of their massive short position before the big upside move. This is the sell off before the Brics meeting in Oct. Even though I have a big position in silver, I will add if it drops to 26.5.
 
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