RE: IG not taking longs and price rising today means somebody knows something18 Aug 2022 09:31
Morning.
I don't take any notice of those guys ;)
Russia have pegged their Gold price at c$2.4k - not a coincidence ;)
They've spent two years driving this sideways/down to 7p - the same timeline as Gold going sideways - there'll be a reason for that.
I'm as confident as I can be that we'll see an explosion in PM prices and continued strength in base metals for the very forseeable future, at least five years, as the banks need to continue to drive strong inflation ala 1970s when Gold, literally, 20x bagged within a decade.
Hence my holding of physical PMs myself and my position in various goldies like HUM with large reserves already bought and paid for - the "market" has them crushed right now, just like Newmont, the World's biggest Gold miner, and, again, that's not a coincidence and it's exactly where I want to be buying - it's just time now, the destination is virtually certain IMO.
As for this - 20p looks very doable as a first move - yesterday's move broke out of the weekly Descending Wedge nicely - looking forward to some +ve news.