Quote Originally Posted by Gandalf View Post
Gold is strong enough and don't forget it was around 1050 only a few years ago. It is an 80% increase on that.
Not even a few years ago miles. It had an odd run from 1k to around 1500 then dropped to 1250 and seemed to hang for ever. One thing that happened during covid was the spot price stuck around 1700-1800 but people were buying it up, demand was so strong people were paying hundreds over spot and waiting a month for delivery. Then news came out that Russia was going to stop buying gold. It was an odd announcement, Russia and China have been scoffing up gold. I have a friend in Portugal who is very knowledgeable and successful with gold, I sent him the link he replied Russia was pulling some shit and it was probably fake news. Sure enough they retracted and said they changed their mind. It was very weird. He gave me some detail, I won’t go into it as it’s hard to follow, but he is a diehard anti fed guy who apparently has enough gold to sink a boat or two, won’t touch anything else even though he knows if he had put the same amount of money in amazon or Apple he’d be rolling in dough. I respect people like that, they take a stand and live by it.

But yes gold is having a good year I would just think with all the uncertainty it would have had a much bigger break out. A lot can still happen regardless