Gold's Four Day Winning Streak!
Gold has been on a tear since last Thursday. Today marks a full week for gold's extraordinary rally. By the end of the trading day on Friday March 1, gold closed at $2,082 for a record high weekly close. On Monday, gold managed to close above $2,100 for the first time ever for a record daily close of $2,116. During Tuesday's trading day, gold managed to breach its previous intra-day high of about $2,144 set on December 1, 2023. The spot price of gold hit $2,150.50 to set a new intra-day record high.
Gold wasn't satisfied with just one record for Tuesday. The yellow metal would go on to close at $2,126.30, beating the previous day's record close. Gold broke two records in a single day! After just three trading days, gold shattered four records.
I guess four records broken is still not enough for gold. Yesterday, during the fourth trading day of this record braking run, gold once again hit a new intraday all time high of $2,152.67 as well as a new record closing high of $2,148.62. I find it difficult to get an exact number. The screenshot below was taken just as gold once again took out its all time high.
This gold rally is believed by some to be fueled by the massive central bank gold buying spree. 2022 was a record haul for central bankers, well over 1,000 tons while 2023's haul was only about 40 tons shy of breaking the previous year's record. 2024, by all accounts is set to be another banner year for central bank gold accumulation.
Fire Maple Gear - Free Shipping On All Orders Over $64!
As I write, Gold has just hit a new all time high of $2164.70 just after 8 am this morning so it looks like I'll be writing another post tomorrow morning announcing gold's fifth day winning streak.
As of this morning, gold has broken seven records... in less than 5 business days! If today's gains hold, gold will see another record closing high later this afternoon. At the very least, we have a new all time high as of this morning and you saw it here first before anyone else!
Another thing, I found out why Bitcoin crashed right after hitting its new all time high, thanks to Milk Road's newsletter. They included this image. It explains clearly. They pack their newsletters with some great information you might not find anywhere else. Click here to sign up. It's totally free.
I'm so excited with gold's historical rally but it's not just gold and Bitcoin that's rallying right now. So is Uranium! I guess nuclear power isn't going away any time soon!
Finally, I have great news. Yesterday, I was able to secure ownership of a new web domain name, www.morning-java.com and soon, it will be up and running (later this Spring) and my MorningJAVA posts will have an official home.
Here's to a great cup of coffee in the morning! See all MorningJAVA links below.
The only coffee company I'm affiliated with, Cooper's Cask Coffee Co.
First time buyers get 10% off. Use code 'FIRSTTIME'.
10% off all products in the store, free shipping over $39.95
USE CODE: FIRSTTIME ( First time orders)
Coffee drinkers love Morning JAVA! Follow my new series:
Most Recent Posts
Gold breaks records 3 days in a row! March 6, 2024
Gold & Bitcoin break records. March 5, 2024
The REPO market is winding down - Why you should care! March 4, 2024
Nickel tanks while cocoa soars. March 1, 2024
Happy Leap Year Day. Feb. 29, 2024
Oops, I tipped over! Feb. 28, 2024
View All Morning Java Posts.
Thank you for supporting my sponsors.
Buy Silver! Visit my eBay channel.
Cooper's Cask Coffee Co. 10% Off First Order w/ code 'FIRSTTIME'
Milk Road - Bitcoin newsletter
Bitify - Buy and Sell Bitcoin marketplace
Fire Maple Gear. 5% Off First Order w/ code 'FM5'
ShareAsale - $$ Affiliate Marketing $$
I'm also on Substack with occasional new podcasts and now also on Twitter / X.
