Just a quick update on the things I like to follow...
Gold is doing very well. So good in fact, it's headed for the highest yearly close on record! As shown below, gold is at $2,077. These are historical times for gold, indeed!
While Kitco's site is still experiencing difficulties, their precious metals live charts are available for viewing. Silver's not doing as well as gold at the moment but the rumors I'm getting is that a massive silver deficit is brewing, bigger than the last couple of years and will likely push prices higher in the new year. Even then, adjusted to inflation, silver is way under-priced, making it a choice investment for the long term.
Very early this morning, while we were sleeping, Bitcoin tumbled below $43,000 but at time of writing, recovered some and sits at $43,374. It seems to like being in this range. So do I!
Brent Crude is back below $80 at $79.43 for a 2% drop on the day. I suggest to take advantage of lower gas prices, to go and fill up because prices might shoot back up anytime with tensions brewing in the Middle East, affecting shipping routes.
On December 21, the USD traded at 102.409 on the DXY Index. The chart at TradingView shows the steady depreciation of the dollar since then, falling to 100.935 this afternoon which would explain the rise in the price of gold. Oddly though, oil prices should be rising with gold but they aren't. A weaker dollar should mean higher oil prices so I do expect some price action to occur soon. As for the dollar, it looks set to fall below 100. At least it appears that way.
The Dow Jones Industrial Average just broke another intra-day record, hitting 37,683.70 while presently sitting at 37,656. It's hard to believe that just a few years ago in the Fall of 2016, the Dow was at 18,161. It has more than doubled in just 7 years. See what Q.E. to infinity does?
Going back to gold, last day of trading for the year falls on Friday. I'm really anxious to see a record close. The month of December and into January is historically good for precious metals. Sure looks like this will ring true this year.
Also, we're days away from finding out whether a spot Bitcoin ETF will be approved by the SEC. There are pros and cons, of course. Something to keep a close eye on!
That's it for now.
Best wishes for the new year.
Peace and love to everyone!
Previous Posts:
Think positive for better health.
Argentina now accepts Bitcoin to settle contracts.
Your P.C.: Good airflow and fire prevention.
Kitco News experiences 'cyber incident'.
Have you seen PublishOx's stats lately?
Bank of England + ECB hold rates steady.
FED holds rates for third consecutive month.
New Milestone: Surpassing 400 Followers!
Out with the old and... in with the old??
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