Will Gold Continue to Rise?

In case you missed it, the price of gold keeps hitting record highs, causing haters to wonder if it will continue to rise.

 

And on the flip side you have the Goldbugs saying this is the beginning of the big move to propel gold to over $20,000 per ounce.

Although $20,000 per ounce seems way out of line, you could make a case for it based on the amount of dollars floating around out there.

And the fact that all fiat currencies eventually return to their real intrinsic value…which is ZERO.

That’s another story for another time.

But suffice it to say that gold has been remarkably strong lately and is following a pattern after a long period of consolidation…see chart below.

 

 

 

 

Continue to Rise?

 

 

And although we believe gold will continue to set new record highs, we feel compelled to remind you that it will likely have a big pullback sooner than later.

 

Why?

 

First, gold is a very small market that can be (and has often been) easily manipulated by the Boyz in the “Club.”

 

And they do it through the futures markets right under the nose of the SEC regulators by dumping billions worth of gold in one or two trades.

Notice we said the “futures markets.”

And that’s because it is all paper-traded gold and NOT physical gold.

 

Because no trader would ever dump $2 Billion worth of gold in one or two trades.

 

You feed it into the market in smaller quantities to be assured of the best price.

 

But that will not stop the Boyz from beating down the price in order to destroy investors’ confidence.

 

Ironically (or NOT) the real reason gold moves up is from a lack of confidence government and not as an inflation hedge.

 

And now that we’re rapidly approaching the election from hell – and quite possibly the last election in America – it’s a safe bet to say that confidence in government is in the middle of a nose-bleed drop.

So, when the Boyz beat down the price of gold, it gives the illusion that things aren’t that bad in government.

 

And this has been going on for decades.

 

The good news is, for all the late comers to the gold market, a sharp decline in September might just be your last chance to grab some gold before it gets the “Slingshot Effect.”

 

READ:  The “Slingshot Effect”  May 29, 2021  (HERE)

 

 

Stay tuned and remember to take possession of your gold when you buy it.

Because, as we are wont to say:

“IF YOU DON’T HOLD IT, YOU DON’T OWN IT.”

 

Share this with a friend…especially if they are a goldbug.  They’ll thank YOU later.

 

And tell them:

 

We’re Not Just About Finance

But we use finance to give you hope.

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