In search of the world’s vast stores of gold, most people would look to Fort Knox, or maybe Swiss banks or central banks and governments around the world. Yet, there’s a powerful global entity with incalculable reserves of wealth – including massive quantities of gold bullion – but it’s shrouded in mystery and largely unreported in the mainstream media.
Russia preparing to invade Ukraine… Heating bills soaring as a blizzard chills the northeast… The stock market just had one of its worst Januarys on record… After a terrible 2021 with Joe Biden’s approval ratings slipping to new lows, 2022 is already turning out to be an unmitigated disaster.
A gold “flash crash” shocked and appalled commodity traders exactly one year after gold hit an all-time high on August 6th 2020. It wasn’t an issue with gold bullion itself, but a sudden and unexpected plunge in gold paper/futures contract prices that represented the biggest two-day drop in gold (in dollar terms) since the March 2020 crash.
No matter which angle you’re looking at it from – economics, chart technicals, or a combination of both – the bull case for silver is as powerful as ever. $35 will prove to be a key level, and after the bulls break through that, the $50 resistance point from 2011 will be next in line.
$2,000 and much higher: it’s not an “if” question but a “when” question for gold because it’s destined to break through new resistance levels, just as it has always done in the past. Still, it’s understandable that people want to how long it will be and how far it will go.