This week’s updates gonna be a little bit different than the normal format unfortunately the guests we were going to have he was unable to attend last minute so I’m gonna give you a brief three-part synopsis covering first where we are gold and silver platinum palladium all spot prices and precious metals have been getting pounded lately mostly it’s been.
Attributed to the US dollars recent increase in value whereas other major fiat currencies and of course minor fiat currencies like the Turkish lira for instance there’s all types of people out there saying you know there’s perhaps the U on trade is on and or the SDR and you know there’s plenty of.
People were gonna argue this no one’s gonna be able to probably pin down exactly what’s going on but you can definitely point to the US dollar strengthening in the last six months and we’re gonna go through a few charts for those simply listening to this podcast I’m going to show hearts on the YouTube channel and some various illustrations I’ll do my best to describe them so you get the gist first up is a US dollar index.
Chart over the past six months basically the US dollars purchasing power versus other major fiat currencies has steadily increased since middle April of this year side note whenever you hear the term US dollar strength always ask yourself over what time.
Frame because over the last century the US dollar loses value by design probably over ninety seven percent of its value has been lost since the Federal Reserve has been enacted now as we as you likely know Gold’s US dollar spot price action over this same time frame.
Has been down the chart you can.
See below we went from 1350 roughly down to almost 1150 interestingly it was not until about middle June when precious metal spot prices really began falling hard.
And that’s the same story in silver see the chart here platinum and palladium – a quick aside ever since the nine mex and comics has been trading platinum and.
Gold futures contracts respectively Platinum’s never been cheaper versus gold you can see today on this chart but that’s another topic for another day basically from my experience reading the comments on silver doctors and here on YouTube and just the general sentiment that’s out there and the bullion industry.
And there’s basically two camps of bullying buyers out there well yeah maybe three one is.
Brand new doesn’t really know anything about it there have been a lot of brand new buyers this week and that’s a good thing the other camps pretty tired they’re kind of sick of the downward price grind since the 2011 highs and they’re pretty much looking forward to dumping their billion as soon as they can and reach a break-even point perhaps the.
Other camp sees it as a long-term insurance play and perhaps even a value play where you always have some position in bullion they.
Perhaps are buying it when it’s cheapest and they’re selling it when prices go eventually higher maybe a little bit here and there some people just think they’re gonna hold it the rest of their life and hand it off to their heirs I’m not really sure what camp I guess I’m a mix of both.
Those two camps it would be nice as the prices start rising to sell it off.