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Buying gold & silver?

YTD is just a trading measure, big up on the year view and its very cheap pricing relative to long term demand and available supply. China revealing its hand is unusual but more overtly the FED is not hard money has missed raising rates, dollar down so metals up likely justified. I'm going to be sad if we dont ever see lower


 
The thing about the Chinese is that they're an ancient culture and experience has taught them to be very patient.

It makes sense for them to build up their gold reserves. The US sanctioned Russian assets and China is being sensible to reduce their risk if the US decides to put them on the naughty step.

Personally (just put my tin foil hat on) I think that China may well be lining up a gold backed currency.

Having said all that precious metals are dragging down my portfolio at the moment. I'm still in profit on gold, but I'm 10% in on silver (5% physical and 5% miners) at about $74 per oz. The plan is to ride silver back up to $120 then sell out.
 
Their culture I think is that but ironic thing was China had no gold at the start of this century, now they are improved but still behind hence the idea the trend remains most probably. Gold 10k is my random target but a lot higher then we've seen, the numbers dont matter in the end

Gold in UK usage was defined by Issac Newton when he was our treasury chief ~Royal mint, I think we retain its tax free place which could matter in future

 
It's lining up to be an interesting week for precious metals.

Last week halved my losses on silver and gave a nice boost to gold.

Let's wait and see.
 
He will hike in December apparently. I dont consider it dramatic, my base line is always the troubles from the 90's when rates were double digits. UK was forced out of ERM, precursor to the Euro; 34 years ago

But I dont expect markets to be calm, not expecting any bullish trend for gold silver. Ironically the third monetary metal, copper might be the most sturdy of all three as its become key to China business not just foreign reserve assets.
EU designated a gold mine as strategic reserves, due to its copper % which is nice :D



Clive goes over geology reports, types of reserves known, unknown, drill results which is relevant to the high risk exploration required
 
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