Gold Closes At Record High While Bitcoin Soars To New Daily High
March 4, 20224 is a date that is going into the history books. Yesterday, I watched in real-time as gold and Bitcoin reached new daily highs. I was stunned as both commodities soared at the same time. Gold has breached the $2,000 mark no less than five times since August, 2020 but then was pushed down as low as $1615 by the last week of October and first week of November, 2022. I believe that was the last time we'll ever see gold that cheap again. The snapshot below of gold's daily chart was taken just after noon, yesterday.
Here's the five day chart for gold...
Gold closed yesterday at a record daily high ($2,116) while just last Friday, it closed at a record weekly high. At time of writing, gold continues to climb and is now at $2,130.
Then, there's Bitcoin. It was amazing to watch as the price surpassed $66K, then $67K and finally, $68K. I knew that what I was experiencing was and is historical so I just had to take a few screen shots to have a personal record of this incredible event. I went to take this next shot just as Bitcoin hit $67K but in a matter of seconds, the price dropped back down below $67K.
The next shot got it...
Bitcoin just kept on going up...
And up! Finally, here's the history making snap shot of $68K Bitcoin...
At time of writing, Bitcoin continues to hold well at $67.88K while it did manage to go to almost $68.9K last night. The previous intra-day high, $68.99K was set in November, 2021. Bitcoin is famous for charging upward by thousands of dollars in a single day. Bitcoin should have no problem breaching $70K and soon. These are exciting times!
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Silver too, saw a nice jump upward yesterday but remains extremely undervalued. Silver is now fighting to breach $24.
Is silver about to play 'Catch Up'? It is without a doubt, the most undervalued asset on the planet. It should be between $75 and $150 (Maybe $300 - $600?) when adjusting to inflation which for some strange reason, has not affected silver one bit.
Congratulations Bitcoin HODLers. Redemption has arrived.
For me, I'm a silver HODLer. I love silver. So where's my damn redemption?
Soooooon!
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