Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of JWR. (SurvivalBlog’s Founder and Senior Editor.) Today’s focus is on cryptocurrency stability. (See the Cryptos section.)
Precious Metals:
Gold and silver lived up to their “safe haven” reputation last week, amidst some genuine “pucker factor” stock market chaos. If you were invested in stocks, then you would have lost around 2.5% last week. But if you were in gold, then you would have gained a bit. I believe that spot gold may be north of $1,400 per troy ounce by the end of November if the stock market turbulence continues. One indicator: Watch China. If the Chinese stock market continues to tank, then gold should do well.
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Gold Keeps Modest Gains As U.S. Weekly Jobless Claims Rise By 5K
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Gold Is Doing What It’s Supposed To As Equities Correct – Analysts
Cryptos (Cryptocurrency Stability):
With seemingly all eyes on volatility in the equities markets last week, mostly ignored was some apparent short term stability in the crypto world, to wit:
$100 Doldrums: Bitcoin’s Price Is Stuck In Its Tightest Range Since 2017
JWR’s Comments: Could this indicate a “base” building for another big pre-winter run-up, like we witnessed last December? (December of 2017.) One thing seems fairly certain to: If there is a major U.S. stock market collapse, then a lot of panicky people will be pouring money into both precious metals and into cryptos.