The Price Of Gold And The Price Of Silver Are Both Soaring Into The Stratosphere As The Global Economy Collapses
For decades, some of the brightest minds in the metals industry warned that the purchase price of gold and silver’s price would grow when the market collapsed, and it turns out they were right on target. What we have been seeing over the past several months has been nothing short of magnificent, and experts feel that this is only the start. But I really went to write about something entirely.
A skirmish across the border between Hezbollah and Israel places the region but things seem to have cooled off for now. So it doesn’t seem like a massive regional war in the Middle East will start now, but as I talk in my brand new book, it’s only a matter of time before an enormous conflict does erupt and I will be watching developments very closely.
There are a lot of components of”the perfect storm” that is now upon us, and international events are happening so quickly it is hard to keep up with them all. But one thing you could count on is that every bit of news will be great news for the purchase price of gold and also for silver’s purchase price.
By spending money, all around the world have reacted, by participating in a money creation spree that’s unlike anything we have seen 39, and banks have reacted.
It was inevitable that we would see silver and gold rise, and that’s just what we have seen as currencies are being devalued at a pace. In actuality, on Monday the amount of gold establishes a completely new record high…
Gold touched record costs as worries over issues like the coronavirus pandemic in addition to U.S.-China worries weighed on investor sentiment. Spot gold traded up 1.9percent at roughly $1,938.11 per oz after earlier trading as high as $1,943.9275 per oz. Those amounts surpassed the previous record cost.
On a percentage basis, the cost of silver is in fact moving much faster than the purchase price of gold, and on Monday we witnessed a move which surprised nearly everybody …At the end of trading today, the silver price surged by almost $2. In accordance with Kitco.com, silver closed at $24.72up $1.91 for the day. I can’t recall almost $ 2 jumped. Naturally, Wednesday and last Tuesday were days for silver but not $2.
What’s intriguing about the last few minutes of trading, silver closed right in the highs. It’s going to be fascinating to see if silver BREAKS over its immunity level that is new, what happens in Asian trading.
As I write this guide, the cost of silver has risen above 26 bucks an ounce, and overall it’s up to greater than 90 percent since the middle of March…Since mid-March, the cost of silver is more than 90%, which makes it one of the top-performing asset classes since the bear market low earlier this season. Additionally, it is more than 22% alone.
Learn More: Virginia State Police investigating a violent traffic stop involving black motorist, official says
The rapid decrease in the dollar, negative real returns, ballooning deficits, and additional government stimulus likely on the way are fueling the current precious metals rally. It is also becoming one of the transactions in the markets, although all these factors encourage a rally in commodities.
Meanwhile, the U.S. market continues to deteriorate. For some time, many in the mainstream press were touting the potential for a”V-shaped recovery”, but now they’re openly admitting that this isn’t likely to happen. By way of instance, the following comes from a CBS News story which was posted…
The economic recovery that started in May is sputtering. Recent statistics show Americans cutting their spending and several companies re-closing their doors as the amount of COVID-19 instances from the U.S. crosses 4 million, increasing concerns about another downturn in growth.
It’s being reported that a “large majority” of MGM workers in the entertainment and sports branch will lose their positions, and considering the fact that Las Vegas currently has among the highest unemployment rates in the whole nation, it will surely not be easy for them to find new occupations.
Elsewhere, United Airlines has announced that it might need to lay off as many as 36,000 employees. That represents almost half of the U.S. workforce for the airline, along with other important airlines are expected to make similar cuts.
Without jobs, a lot of unemployed workers are just not going to have the ability to pay their debts, and CNBC is telling us that the U.S. may soon be facing “an unprecedented eviction crisis”…Unless new moratoriums are created, millions of Americans will be facing eviction, and according to one estimate a grand total of 40 million Americans could be evicted over the course of the whole pandemic…
The event has resumed in over 30 states. The moratorium in Hawaii and Illinois finish this week, and in August, evictions will pick up in New York and Nevada. By one estimate, some 40 million Americans could be evicted during the public health catastrophe.
What is this country going to look like if 40 million people are thrown out to the road?
This downturn will make the recession seem, as I have cautioned. The suffering there is much that could be done to prevent it and will be off the charts.
Yes, Congress will pass “stimulation bills” and the Federal Reserve will continue to make money at a shocking rate.
They’ll also be music to the ears of each silver and gold investor, although those measures will offer relief for the economy.
Things have gotten mad, and they are going to get more crazy. Hold on tight, as the remainder of 2020 is certainly going to be quite”interesting”.
Facts Check: Uber Fake
