In this video, I talk with author and economic analyst John Sneisen about the massive gold rally which hit a 7 year growth high over the New Year!
As it continues to climb, people are once again seeing the value in precious metals.
Gold and silver have been heavily manipulated via ETFs, big banks, the Exchange Stabilization Fund among other master manipulators. Most notably since 2012 when gold climbed 1000% from 2002, gold was held down in an artificial bear markets. The physical sales were up but ETFs manipulated it into oblivion.
While we did see a big rally in January 2016, it appears gold is starting to breach the hands of the manipulators as we reported in December, it had broken the 7 year bear trend. This is great for silver and gold.
Of course we at WAM are big supporters of diversification between gold, silver, Bitcoin and other cryptocurrencies as a way to pull away from the failing central banks and fiat is printed into nothingness.
Interestingly, as gold and silver climbed over the New Year, the dollar slumped and there's no surprises there!
See the FULL video report here:
Stay tuned as we continue to get vindicated in a good way for once as gold and silver continue to show themselves to be great wealth insurance. Not an investment! Insurance! We all can do with extra preparation for the coming winter if you know what I mean!
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If it wasn't for the all the manipulations on the futures markets, Gold would have been close to $10k by now and Silver would be trading north of $100.
We've had a minor pull back this evening which I think is a healthy breather. I think, because we have pushed strongly through 1300, we will continue the uptrend to around 1340 or 1350 before we see a more significant correction back down, only this time I think it will stay above 1300 before resuming it's major bull.
One of your best videos ever. Anyone discounting the potential of the oldest most powerful commodity in history has not studied history. Major Fiat currency vs gold event of our lifetimes on the horizon! Stay diverse with physical metal
yeh this trend will effect banking system
But after all: not such a high high...
Let’s hope buying precious metals for years for us stackers finally pays off in 2018, Josh!
Ripple sold, sad to see it go its a good earner but there is bigger things to think about.
And as this post came out another smack down happens....
Graphs like what he showed at the top happen all the time, only this one broke 1300. It breathes up and down (with some hefty distortions).
Gold and silver are overbought with relative strength (RSI) above 70 and gold price above its upper Bollinger band. Look for a pullback to relieve this overbought condition before we get a continue rally through February.
What's skyrocketing, is Steem. It's above 8 dollars at this moment (3 Jan 2018). It's crazy. I got out too early at 4 usd. I didn't think it would shoot to the moon like this. Nonetheless I'm very happy for steem.
Long term hodl & accumulate for steem. Barely on the radar yet