RE: Barrick results Share Price down 1.6%19 Feb 2021 10:13
Let's be clear here - banks aren't "out" of Gold & Silver - they're hoarding more physical than anyone else whilst keeping the price relatively suppressed via paper dumping.
Nobody knows for sure what the short-term moves will be but sometimes you need to ignore the noise and concentrate on the things that matter:
In around five years time the US cannot pay anything but interest on its gargantuan debt - no money available to reduce the principal at all on current trajectory - in other words, they're flat broke.
The only way out of that is to pump inflation, artificially of course - look at Copper/Oil/Platinum etc and, yes, Gold and Silver from this time last year - near 2x baggers.
40% of all the Dollars in the World right now were printed freshly in 2020 - there is no reason to expect 2021 to be any different - next weekend the Yanks will sign-off on another $1.9T of new "money" to add to that paper pile. The Fed are squirting - get this - 0.6% of the US GDP into markets EVERY MONTH - just think about that, the numbers involved here are almost inconceivably big, such is the fear of armageddon deflation kicking in. The final, desperate, move is to throw money at retail, hence the stimmy checks, because they know regular people will/have to spend it.
Anyone expecting Gold & Silver to drop over the next five years needs to wake up and smell the coffee - bankers made Gold bookable on their balance sheets via Basel 3 for a reason - hard assets are a one way trip for the forseeable, likely at least five years - again.
This is the very definition of a tinderbox scenario - keep em very peeled over the next few weeks.
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